Debt: The First 5,000 Years

By: Graeber, David

Price: $32.00

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Book Condition: Brand New!


Every economics textbook says the same thing: Money was invented to replace onerous and complicated barter system--to relieve ancient people from having to haul their goods to market. The problem with this version of history? There's not a shred of evidence to support it. Here anthropologist David Graeber presents a stunning reversal of conventional wisdom. He shows that for more than 5,000 years, since the beginning of the agrarian empires, humans have used elaborate credit systems. It is in this era, Graeber shows, that we also first encounter a society divided into debtors and creditors. With the passage of time, however, virtual credit money was replaced by gold and silver coins--and the system as a whole began to decline. Interest rates spiked and the indebted became slaves. And the system perpetuated itself with tremendously violent consequences, with only the rare intervention of kings and churches keeping the system from spiraling out of control. Debt: The First 5,000 Years is a fascinating chronicle of this little known history--as well as how it has defined human history, and what it means for the credit crisis of the present day and the future of our economy.


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Anthropologist David Graeber shows readers that for more than 5000 years, since the beginning of agrarian empires, humans have used elaborate credit systems to buy and sell goods. He also shows that the history of society being divided into creditors and debtors was born in this ancient era.

Title: Debt: The First 5,000 Years

Author Name: Graeber, David

Categories: Money & Business
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Publisher: MELVILLE HOUSE PUB:

ISBN Number: 1933633867

ISBN Number 13: 9781933633862

Binding: Hardcover

Book Condition: Brand New!

Seller ID: 2434