Thursday, July 3, 2014

Debt. The first 5000 years.

The book is a good history on the history of debt and it's impact on society.

The book starts off with a rant against the world bank and the debt held by some third world nations. It never really completes that thought which is too bad.

In general the author has a fondness for raising complications and questions as a way of suggesting there is weakness in a system. I'm not fond of this rhetoric. Conflating personal confusion with greater causation…

The book does raise some good points about what debt is, and it's effect on us. Sometimes paying off a debt is a way of saying you'd rather not have anything to do with another person. So, some debts shouldn't be paid off.

Debt is an equalizer. The fact that a King can go into debt to someone else suggests that on some level the king is in the same class as that person. An aristocrat can be obligated to a commoner.


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