Debt: The First 5000 Years, 1st Edition (Paperback) book cover

Debt

The First 5000 Years, 1st Edition

By Sulaiman Hakemy

Macat Library

88 pages

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Description

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.

Table of Contents

Ways in to the text Who was 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

About the Author

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.

About the Series

The Macat Library

Great Works for Critical Thinking

Making the ideas of the world’s great thinkers accessible, affordable, and comprehensible to everybody, everywhere. 

With a growing list of over 180 titles across a broad range of subject areas, Macat works with leading academics from the world’s top universities to produce new analyses that focus on the ideas and the impact of the most influential works ever written. By setting them in context – and looking at the influences that shaped their authors, as well as the responses they provoked – Macat encourages readers to look at these classics and game-changers with fresh eyes.

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Subject Categories

BISAC Subject Codes/Headings:
BUS069000
BUSINESS & ECONOMICS / Economics / General
SOC002000
SOCIAL SCIENCE / Anthropology / General