Debt: The First 5,000 Years pdf

David Rolfe Graeber is a London-based anthropologist and anarchist activist, perhaps best known for his 2011 volume Debt: The First 5000 Years. He is Professor of Anthropology at the London School of Economics. As an assistant professor and associate professor of anthropology at Yale from 1998–2007 he specialised in theories of value and social theory. The university's decision not to rehire him when he would otherwise have become eligible for tenure sparked an academic controversy, and a petition with more than 4,500 signatures. He went on to become, from 2007–13, Reader in Social Anthropology at Goldsmiths, University of London. His activism includes protests against the 3rd Summit of the Americas in Quebec City in 2001, and the 2002 World Economic Forum in New York City. Graeber was a leading figure in the Occupy Wall Street movement, and is sometimes credited with having coined the slogan, "We are the 99 percent".

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

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.