Debt: The First 5,000 Years

A Comprehensive History of Debt and Its Impact on Human Civilization

In his groundbreaking book, "Debt: The First 5,000 Years," David Graeber traces the history of debt from its origins in ancient Mesopotamia to its current global dominance. Graeber argues that debt is not a natural or inevitable part of human society, but rather a social construct that has been used to control and exploit people for centuries.

The Origins of Debt

Graeber begins by examining the earliest evidence of debt in human history, which dates back to the ancient city-states of Mesopotamia. In these early societies, debt was used primarily as a way to finance trade and commerce. However, it quickly became a tool for the wealthy and powerful to exploit the poor and vulnerable.

Debt and Slavery

One of the most pernicious uses of debt has been to enslave people. In ancient Greece and Rome, for example, debtors who could not repay their debts could be sold into slavery. This practice continued in many parts of the world until the 19th century.

Debt and Colonialism

Debt has also been used as a tool of colonialism. In the 16th century, European powers began to use debt to finance their colonial conquests. This led to a massive increase in global debt, which had a devastating impact on the economies of the colonized countries.

Debt and the Modern World

In the modern world, debt has become a central part of the global economy. Governments, corporations, and individuals are all deeply in debt, and the total amount of debt in the world is now estimated to be over $200 trillion. This massive debt burden is a major threat to the global economy, and it is one of the key factors behind the current economic crisis.

Graeber's Argument

Graeber argues that debt is a fundamentally flawed system that is based on exploitation and inequality. He calls for a radical rethinking of our current debt-based economy, and he proposes a number of alternative ways to organize economic activity.

Why You Should Read This Book

"Debt: The First 5,000 Years" is a must-read for anyone who wants to understand the history of debt and its impact on human civilization. Graeber's book is a powerful indictment of the current debt-based economy, and it offers a glimpse of a more just and sustainable future.

Praise for "Debt: The First 5,000 Years"

"A brilliant and provocative book that challenges our most basic assumptions about debt and money." — Yanis Varoufakis, former finance minister of Greece

"A magisterial work of scholarship that will change the way we think about debt." — Michael Hudson, author of "Super Imperialism"

"A must-read for anyone who wants to understand the world we live in." — Naomi Klein, author of "The Shock Doctrine"