Books: Debt: The First 5,000 Years, by David Graeber

Insight into the evolution of debt, from 3,500 BC onwards.

Interesting facts:

  • Debt/credit precedes money. The author argues that debt and credit offer more logical explanation of ascent of money than simplifying barter, the reason normally stated by the economic history books.
  • Primordial debt. Concept probably not original to this book, but interesting nonetheless. I see it as an interesting way of explaining religion. Seeing a creation of human being as an unsurmountable debt to the omnipotent, explains the earthly sacrifice.

 

Personal rating: 7/10

 

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