📓 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

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