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  • 27 Oct
    10:43 am

    People in societies without money don’t barter, not unless they’re dealing with a total stranger or an enemy. Instead they give things to each other, sometimes as a form of tribute, sometimes to get something later in return, and sometimes as an outright gift. Money, therefore, wasn’t created by traders trying to make it easier to barter, it was created by states like ancient Egypt or massive temple bureaucracies in Sumer so that people had a more efficient way of paying taxes, or simply to measure property holdings. In the process, they introduced the concept of price and of an impersonal market, and that ate away at all those organic webs of mutual support that had existed before.

    That’s ancient history, literally. So why does it matter? Because money, Graeber argues, turns obligations and responsibilities, which are social things, into debt, which is purely financial. The sense we have that it’s important to repay debts corrupts the impulse to take care of each other: Debts are not sacred, human relationships are.

    "
    Drake Bennett, “David Graeber, the Anti-Leader of Occupy Wall Street”, Bloomberg Businessweek(Graeber recommends a modern-day, Biblical-style “jubilee”, a forgiveness of all current debts - I couldn’t agree more: “Debts are not sacred, human relationships are.”)
    • #drake bennett
    • #david graeber
    • #bloomberg businessweek
    • #debt
    • #money
    • #economics
    • #humanity
    • #occupy wall street
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