Dr. David Graeber, professor of anthropology at Goldsmiths Higher education, College of London on his e book - Credit card debt: The First 5000 years. The 1st 5000 a long time. How the ideas of financial debt and credit score have defined human history and what this signifies for our present credit crisis and the foreseeable future of our economic system.
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On January 28, 2012,
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Dr. David Graeber, professor of anthropology at Goldsmiths Higher education, College of London on his e book - Credit card debt: The First 5000 years. The 1st 5000 a long time. How the ideas of financial debt and credit score have defined human history and what this signifies for our present credit crisis and the [...]
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@qonf How many people even know how to buy a house? I'd wager a guess at about 10% of people over 18. It's a shame, they spend more time teaching kids advanced calculus than how to handle money, buy a house, a car, start a business, etc. The country is screwed up because we put our faith in an education system that doesn't care about the students at all. It's been that way for decades & now we're reaping the "rewards".
@KenMacMillan Sucks if your a young guy who struggle to even scrape together the security capital to be eligible to take out a loan for a house.
The examples in the book are feudal societies where the government is replaced by the rich over-lord or the king. To me, debt to the king is public debt.
@bigfootSH When he talks about debt he is mainly talking about private debt owed by poor people to rich people, not public debt (debt owed by governments). Thisis mentioned in the book.
Wait a second, the concept of jubilee is for public debt, not including private right? At least that's my understanding from the book, but he doesn't seem to make that distinction in his interviews...
@KenMacMillan The better question to ask is: why are some people denied housing at all?
@Cabronosidad Jubilee is the solution? So everyone who was to stupid to realize they couldn't afford a house should get that house for free?
@overseachininadoll The system doesn't care who owns what money, as long as money is being spent, it works. I think it's an interesting idea, but not one that would ever fly in this country.
One rule to help prevent stupid over leverage of the entire system: no more fractional reserve banking.
@Beannaich - Sure if money are their own money not borrowed from others. Hell who won't want to buy and spend the free money happily if knowing you don't have to pay them back?
@overseachininadoll People spending all that money all at once would stimulate the economy, no?
Wow, great interview. Debt peonage is the problem. Jubilee is the solution. Don''t hold your breath though folks. They haven't finished plundering the western economies just yet. Lanterns & pitchforks anyone?
lol the usa doesn't print money.
KICK OUT THE IMF!!!! I LOVE THIS MAN!!!!!!!!