rafd.me
/
words
/
2023-09-03-debt-the-first-5000-years
📓
debt, the first 5000 years
Debt, The First 5000 Years - Graeber
money is a measure
a way to compare and communicate re: value of one type of thing vs another
ie. you can't "hold a dollar", a banknote is just a representation of a dollar
contrary to most myth, barter economies didn't exist before money
debt came before money
a lot of 1:1 personal IOUs
government, and creation of money,
created
markets
cash is a debt the government owes you
debts create money, thus banks create a ton of money
church opposed debt, materialism, b/c it competes with morality
"more money" == "good" vs church's definition of good
it is difficult to entangle the contributions to "progress" of
"capitalism"
scientific and technological advancement
democracy
reflective thoughts
having money, is the government/society "owing you"
the government is a fucky debtor, because they can futz around with their debts, by controlling interest rates and the value of money
through inflation, they can reduce their debts
taxes are just an alternative to inflation
or, inflation is an alternative to taxes
we need farmers, but farming is risky (particularly, when droughts, fires etc.)
why punish farmers (w/ "lower incomes") for the inherent risk
2023-09-03
#economics
#history
Related Words
2023-11-19
📓
the deficit myth
#public-policy
#economics
2023-09-22
🤔
mmt
#public-policy
#economics
2023-08-16
🤔
capitalism, violence, inequality
#ethics
2023-02-01
🤔
inflation
#economics
2022-11-29
🤔
georgism lightning talk
#georgism