Authors@Google: David Graeber, DEBT: The First 5,000 Years

DEBT: The First 5,000 Years While the "national debt" has been the concern du jour of many economists, commentators and politicians, little attention is ever paid to the historical significance of debt. For thousands of years, the struggle between rich and poor has largely taken the form of conflicts between creditors and debtors—of arguments about the rights and wrongs of interest payments, debt peonage, amnesty, repossession, restitution, the sequestering of sheep, the seizing of vineyards, and the selling of debtors' children into slavery. By the same token, for the past five thousand years, popular insurrections have begun the same way: with the ritual destruction of debt records—tablets, papyri, ledgers; whatever form they might have taken in any particular time and place. Enter anthropologist David Graeber's Debt: The First 5,000 Years (July, ISBN 978-1-933633-86-2), which uses these struggles to show that the history of debt is also a history of morality and culture. In the throes of the recent economic crisis, with the very defining institutions of capitalism crumbling, surveys showed that an overwhelming majority of Americans felt that the country's banks should not be rescued—whatever the economic consequences—but that ordinary citizens stuck with bad mortgages should be bailed out. The notion of morality as a matter of paying one's debts runs deeper in the United States than in almost any other country. Beginning with a sharp critique of economics (which since Adam Smith has erroneously argued that all human economies evolved out of barter), Graeber carefully shows that everything from the ancient work of law and religion to human notions like "guilt," "sin," and "redemption," are deeply influenced by ancients debates about credit and debt. It is no accident that debt continues to fuel political debate, from the crippling debt crises that have gripped Greece and Ireland, to our own debate over whether to raise the debt ceiling. Debt, an incredibly captivating narrative spanning 5,000 years, puts these crises into their full context and illuminates one of the thorniest subjects in all of history. ABOUT THE AUTHOR David Graeber teaches anthropology at Goldsmiths College, University of London. He is the author of Towards an Anthropological Theory of Value, Lost People, and Possibilities: Essays on Hierarchy, Rebellion, and Desire. This talk was hosted by Boris Debic on behalf of the Authors@Google program.

DEBT THE FIRST 5,000 YEARS - DAVID GRAEBER - MELVILLE HOUSE, USA, 2011

DEBT

THE FIRST 5,000 YEARS

DAVID GRAEBER

Before there was money, there was debt

“Graeber’s most important contribution to the movement may owe less to his activism as an anarchist than to his background as an anthropologist. His recent book DEBT: The First 5,000 Years (Melville House, $32) reads like a lengthy field report on the state of our economic and moral disrepair. In the best tradition of anthropology, Graeber treats debt ceilings, subprime mortgages and credit default swaps as if they were the exotic practices of some self-destructive tribe. Written in a brash, engaging style, the book is also a philosophical inquiry into the nature of debt — where it came from and how it evolved. Graeber’s claim is that the past 400 years of Western history represent a grievous departure from how human societies have traditionally thought about our obligations to one another. What makes the work more than a screed is its intricate examination of societies from ancient Mesopotamia to 1990s Madagascar, and thinkers ranging from Rabelais to Nietzsche — and to George W. Bush’s brother Neil.”
—Thomas Meaney, New York Times Book Review(Read the whole article)

Every economics textbook says the same thing: Money was invented to replace onerous and complicated barter systems—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 5,000 years ago, during 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.

David Graeber teaches anthropology at Goldsmiths, University of London. He is the author of Towards an Anthropological Theory of Value, Lost People: Magic and the Legacy of Slavery in Madagascar, Fragments of an Anarchist Anthropology, Possibilities: Essays on Hierarchy, Rebellion, and Desire, and Direct Action: An Ethnography. He has written for Harper’s, The Nation, Mute, and The New Left Review. In 2006, he delivered the Malinowski Memorial Lecture at the London School of Economics, an annual talk that honors “outstanding anthropologists who have fundamentally shaped the study of culture.” 

Read the Debt first 23 pages on ISSU

Vote for David Graeber as one of Time’s 2012 most influential people

Vote for David Graeber as one of Time’s 2012 most influential people

David Graeber, author of Debt, the First 5,000 Years, has been nominated by Time magazine as one of 2012′s most influential people. Graeber, a former Yaleprofessor and social-justice advocate, is widely recognized for his efforts influencing and leading the Occupy Wall Street Movement.

Last year’s most influential list included such luminaries as tech giant Larry Page, Prime Minister David Cameron, musician Bruno Mars, and author George R.R. Martin, among others.

According to Wikipedia:

The list was started with a debate at a symposium in Washington, D.C., on February 1, 1998, with panel participants CBS news anchor Dan Rather, historian Doris Kearns Goodwin, former New York governorMario Cuomo, then-political science professor Condoleezza Rice, neoconservative publisher Irving Kristol and Time managing editorWalter Isaacson.

The list was first published in 1999, when Time magazine named the 100 most influential people of the 20th century. Based on the popularity of the installment, in 2004 Time magazine decided to make it an annual issue, listing the 100 people most influencing the world. Making the list is frequently mistaken as an honor; however, Time makes it very clear that people are recognized for changing the world, for better or for worse. Those recognized fall in one of five categories: Leaders & Revolutionaries, Builders & Titans, Artists & Entertainers, Scientists & Thinkers, and Heroes & Icons. Within each category, the 20 most influential people (sometimes pairs or small groups) are selected, for a grand total of 100 each year.

Of Graeber’s book, the Financial Times said, “If you want to get a fresh perspective on the issue, take a look at a fascinating new book called Debt: The First 5,000 Years by David Graeber … not just thought-provoking, but also exceedingly timely.”

And in the New York Times Book Review, Thomas Heaney predicts: ”Graeber’s most important contribution to the movement may owe less to his activism as an anarchist than to his background as an anthropologist. His recent book DEBT: The First 5,000 Years (Melville House, $32) reads like a lengthy field report on the state of our economic and moral disrepair.”

So join the growing revolution of people who understand and admire the work of David Graeber. Vote for him today as one of Time Magazine’s Most Influential People of 2012.

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