Debt, 10th Anniversary Edition

More about the book

A resounding success in the United States and various countries, Debt: The First 5,000 Years is not only one of the most important books on economic history and anthropology in recent times but also a fundamental work for understanding the current stage of capitalism. In it, American anthropologist David Graeber presents a new perspective on the history of debt and credit, as well as the origin of money. Graeber's comprehensive analysis challenges myths of economic studies, such as the idea that money was invented to replace barter. The anthropologist demonstrates that even before the creation of currency, civilizations dealt with elaborate systems of indebtedness and trade. The emergence of money brought violent consequences for societies, and debt, once linked to reciprocity and the exchange of favors, became an instrument of enslavement, domination, and war - as it continues to be today. A fascinating and unprecedented history of civilization emerges in this book, emphasizing the social dimension of economic relations and providing a radical critique of how capitalism, through indebtedness, produces control and destruction.