Quote from: donpepot on March 07, 2018, 12:58:47 PM

Quote from: indio007 on August 26, 2011, 10:40:53 AM

I found this an interesting interview about the history of money and debt.
Check it out.

What is Debt? An Interview with Economic Anthropologist David Graeber

Quote

David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of Debt: The First 5,000 Years which is available from Amazon.

Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

Philip Pilkington: Lets begin. Most economists claim that money was invented to replace the barter system. But youve found something quite different, am I correct?

David Graeber: Yes theres a standard story were all taught, a once upon a time its a fairy tale.

Debt is money owed by one party, the borrower or debtor, to a second party, the lender or creditor. The borrower may be a sovereign state or country, local government, company, or an individual.

I completely agree with you, but one wants to say an amendment, and this is that debts are always very difficult to give or take. but nevertheless there are some procedures and actions when everyone willingly does what they would like.