3 ms·
I completely agree that Graeber's barter myth "debunking" is bullshit. However, even as a thought experiment, the barter story was never very enlightening - act
by squillion 4y ago
I completely agree that Graeber's barter myth "debunking" is bullshit. However, even as a thought experiment, the barter story was never very enlightening - actually more confusing than anything. It suggests that money is a commodity (salt, gold, cigarettes or whatever), while we know that's not the case. The gold standard is long gone and bank lending creates money. These facts are very hard to explain starting from barter.
I still recommend Graeber's book. If you already have a decent grasp of macroeconomics it can provide perspective and depth.