35 ms·
Phenomenal book that cover's this exact topic, "Debt: The First 5000 Years." https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years https://en.wikipedia.org/w
by weatherlight 3y ago
Phenomenal book that cover's this exact topic, "Debt: The First 5000 Years."
https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years
"The book argues that debt has typically retained its primacy, with cash and barter usually limited to situations of low trust involving strangers or those not considered credit-worthy"
It would make sense that cash would pop up once the Romans arrived, and would be in small amounts to facilitate spot transactions between Romans and the pre-Roman peoples of Britain and why there's such little amounts of cash.
Further more, I can imagine a scenario where Roman coins were melted down to make these coins (total conjecture) .
- 7thaccount 3y agoI've seen some work on this as well. It would make sense in small tight knit communities to help out your neighbor when you could and vice-versa. There would be a relatively small need for coinage until things became a lot more complex and urbanized.
- MichaelZuo 3y agoThat's still true nowadays if you limit 'cash' to just physical currency.
- weatherlight 3y agoits not quite the same, I explain why in the comments below this one. :)
- LudwigNagasena 3y agoThe book is a combination of anecdata and speculation presented in a polemical style. Not really something that I would call “phenomenal”.
- weatherlight 3y agothe book stimulates important discussions on economic history and the roots of our financial systems. While its style is assertive, its contribution to questioning established economic assumptions is undeniably valuable. its also backed by anthropological and archaeological evidence.
- LudwigNagasena 3y agoUnfortunately, Graeber is not well-versed in economic theory so him “questioning established economic assumptions” often resembles fighting windmills or not even that. If you know any actual contributions to economics or the history of economics that were consequences of his stimulation, I would be glad to hear about them.
- weatherlight 3y agoGraeber's background in economic anthropology offers a fresh lens through which to view economic history, highlighting the social and cultural dimensions that traditional economic theories sometimes overlook. His work has encouraged interdisciplinary dialogue, prompting economists and historians alike to incorporate broader socio-cultural understandings into their analyses. While his approach differs from conventional economic theorizing, it complements it by adding depth to our understanding of economic phenomena.
- LudwigNagasena 3y agoRight, but are there _actual_ contributions to economics or the history of economics that were consequences of his “stimulation”? Also, saying that he single-handedly prompted “economists and historians alike to incorporate broader socio-cultural understandings into their analyses” is a huge denigration of institutional economics, behavioural economics, Austrian economics, social economics, etc.
- weatherlight 3y agoIt's a relatively recent addition to the discorse, having been published just over a decade ago. It's definitely apart of the heterodox tradition in economics (without diminishing what's already there), which often takes longer to be integrated into the mainstream. So, I guess time will tell?
- Exoristos 3y agoAnd very tendentious.
- deleted 3y ago[deleted]
- nerdponx 3y agoI find that this is true about most non-fiction books I have read. Even when extensively cited, I often get the impression that the author is drawing large conclusions from small data.
- muzani 3y agoMortimer Adler says that history is closer to fiction than many other forms of books. It's not even data. Autobiographies in particular are rarely true, but not entirely false. It seems that the more data one has, the more likely they are to be biased in interpretation.
- willdr 3y agoRead some actual history books (as in, academic historians, not pop historians).
- nerdponx 3y agoGot any recommendations? I am pretty deep into the Hamilton biography which seems very extensively researched and widely praised. It's an excellent story if nothing else.
- Bouncingsoul1 3y agoI currently work through this list https://press.princeton.edu/series/the-princeton-economic-history-of-the-western-world https://press.princeton.edu/series/the-princeton-economic-hi... quite some books on dept eg. https://press.princeton.edu/books/paperback/9780691173771/lending-to-the-borrower-from-hell https://press.princeton.edu/books/paperback/9780691173771/le... or https://press.princeton.edu/books/paperback/9780691168357/fragile-by-design https://press.princeton.edu/books/paperback/9780691168357/fr...