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David Graeber's Debt, The First 5,000 Years ideas on this can be summarized that around 1500 or so, money gained autonomy from the leviathan. Where it once matt
by nickbauman 11y ago
David Graeber's Debt, The First 5,000 Years ideas on this can be summarized that around 1500 or so, money gained autonomy from the leviathan. Where it once mattered that you could use money to get things and use things to get money, but when money is used only to get money, things go berserk.
The result was someone like Cortez could conquer Mexico, gathering all the gold there was to be had, even enslaving thousands to work in mines, murdering thousands more by working them to death, and still be completely broke. Cortez was capitalized at a rate point where he could never break even.
- littletimmy 11y agoWait what is this about Cortez not being able to break even due to overcapitalization? It sounds really interesting. Would love if you could point me to a source where I can read more about this.
- quadrangle 11y agoThe poster you're replying to specifically referenced a book that discusses this and related topics, with tons of citations. You should read it, it's an amazing, important book.
- borkabrak 11y agoTry David Graeber's Debt, The First 5,000 Years :)
- igonvalue 11y agoWould you recommend reading it? This review claims it's too rambling and confused to make it worthwhile[0]. [0] http://noahpinionblog.blogspot.com.au/2014/11/book-review-debt-first-5000-years.html http://noahpinionblog.blogspot.com.au/2014/11/book-review-de...
- nickbauman 11y agoI strongly suspect the guy didn't actually read it, in spite of over-explaining that he did. Graeber stops in several places and carefully recaps in outline form the past several hundred pages to make sure you're following along.