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Original Title:	Debt: The First 5,000 Years
ISBN:	1933633867 (ISBN13: 9781933633862)
Edition Language:	English
Literary Awards:	Bread and Roses Award (2012)

Debt: The First 5,000 Years

David Graeber

Hardcover | Pages: 534 pages

Rating: 4.16 | 11072 Users | 1439 Reviews

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Title	:	Debt: The First 5,000 Years
Author	:	David Graeber
Book Format	:	Hardcover
Book Edition	:	Deluxe Edition
Pages	:	Pages: 534 pages
Published	:	September 16th 2011 by Melville House Publishing (first published July 2011)
Categories	:	History. Economics. Nonfiction. Anthropology. Politics. Finance. Business

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Before there was money, there was debt

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 for more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era, Graeber argues, that we also first encounter a society divided into debtors and creditors.

Graeber shows that arguments about debt and debt forgiveness have been at the center of political debates from Italy to China, as well as sparking innumerable insurrections. He also brilliantly demonstrates that the language of the ancient works of law and religion (words like “guilt,” “sin,” and “redemption”) derive in large part from ancient debates about debt, and shape even our most basic ideas of right and wrong. We are still fighting these battles today without knowing it.

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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Ratings: 4.16 From 11072 Users | 1439 Reviews

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I had a difficult time slogging through Debt. It shares a similar problem with Niall Fergeson's completely unreadable "the Ascent of Money:" it mixes in the author's politics and political leanings with history to give everything this weird political sheen (in this case left to Fergeson's right.) In this case, Graeber's book covers more facts than political lecturing but it's bumped several stars for being overt.However, Debt is a worthy read for anyone interested in the span of history from

An excellent analysis of how money equals debt, and how the concepts of debt and moral turpitude have been conflated and perverted over the centuries. Granted, everything recent hits hard and fast at the end, and frankly deserves a lot more ink, but the analyses of how civilization arose side-by-side with debt are pretty fascinating, as are the detailed explanations of how economic systems arose in various places around the world -- Graeber's an anthropologist, and his enthusiasm shows. I wish I

First half 5 stars, second half 3 stars. When I was in the 5th grade, we had a social studies unit centered around a book called Life On Paradise Island. It was a cartoonish book that told the tale of how a modern economy is developed. It started with the islanders trading coconuts for fish. Of course things got complicated when the coconut guy didn't need or want fish, but he wanted a hut built and the hut builder wanted something else. Eventually a stone currency was developed and it made

As a sociologist, I've been despairing of late at the paucity of imagination and theoretical innovation in social science research. Academics, perhaps because of the need to publish quickly and garner grant money, seem content to only add statistical validation to already established conclusions. Or, a la David Harvey, to regurgitate Marx with minor variation, with a focus solely on the neoliberal period, and in US/Eurocentric fashion. Debt: The First 5,000 Years redeems the social sciences. Not

This is a book that made an impression on me. I will say right up front that it doesn't totally hang together. It sets out to make a step by step case, and gets carried away with its own ideas. It is intellectual for a popular book, but not tight enough for an intellectual book (which is probably fine by me). It attempts to sell you on a grandiose prediction or statement of where we are in the arc of history and where we are going at the end of the book. It is easy to get swept up in that

This is a book that made an impression on me. I will say right up front that it doesn't totally hang together. It sets out to make a step by step case, and gets carried away with its own ideas. It is intellectual for a popular book, but not tight enough for an intellectual book (which is probably fine by me). It attempts to sell you on a grandiose prediction or statement of where we are in the arc of history and where we are going at the end of the book. It is easy to get swept up in that

As it turns out, we don't "all" have to pay our debts. Only some of us do. David Graeber, Debt: The First 5,000 YearsA fascinating exploration of debt, money, barter, and the credit systems used by man for thousands of years. Sure it has biases and like Capital in the Twenty-First Century is a bit too idealistic, but still -- wow -- an amazing read. While most economic books are still battling over the binary capitalism::socialism model, Graeber quietly flips both boats (or if not flips, rocks