1st Edition

An Analysis of David Graeber's Debt The First 5,000 Years

By Sulaiman Hakemy Copyright 2017
    96 Pages
    by Macat Library

    96 Pages
    by Macat Library

    Debt is one of the great subjects of our day, and understanding the way that it not only fuels economic growth, but can also be used as a means of generating profit and exerting control, is central to grasping the way in which our society really works.

    David Graeber's contribution to this debate is to apply his anthropologists' training to the understanding of a phenomenon often considered purely from an economic point of view. In this respect, the book can be considered a fine example of the critical thinking skill of problem-solving. Graeber's main aim is to undermine the dominant narrative, which sees debt as the natural – and broadly healthy – outcome of the development of a modern economic system. He marshals evidence that supports alternative possibilities, and suggests that the phenomenon of debt emerged not as a result of the introduction of money, but at precisely the same time.

    This in turn allows Graeber to argue against the prevailing notion that economy and state are fundamentally separate entities. Rather, he says, "the two were born together and have always been intertwined" – with debt being a means of enforcing elite and state power. For Graeber, this evaluation of the evidence points to a strong potential solution: there should be more readiness to write off debt, and more public involvement in the debate over debt and its moral implications.

    Ways in to the text

     

    Who is David Graeber?  

    What does Debt: The First 5000 Years Say?  

    Why does Debt: The First 5000 Years Matter?  

    Section 1: Influences 

    Module 1: The Author and the Historical Context 

    Module 2: Academic Context 

    Module 3: The Problem 

    Module 4: The Author's Contribution 

    Section 2: Ideas 

    Module 5: Main Ideas 

    Module 6: Secondary Ideas 

    Module 7: Achievement 

    Module 8: Place in the Author's Work 

    Section 3: Impact 

    Module 9: The First Responses 

    Module 10: The Evolving Debate 

    Module 11: Impact and Influence Today 

    Module 12: Where Next? 

    Glossary of Terms 

    People Mentioned in the Text 

    Works Cited

    Biography

    Sulaiman Hakemy holds a master’s degree in economic history and development from the London School of Economics. A writer and journalist, he has reported on industry, politics, and culture for various publications. His background is in the development, aid and urban planning sectors, specialising in conflict and fragile states. He is based in Istanbul and Toronto, and speaks English, French, Spanish, Arabic, Persian, and some Urdu.