49 pages • 1 hour read
David GraeberDebt: The First 5,000 Years
Nonfiction | Book | Adult | Published in 2011A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality Study Guides with detailed chapter summaries and analysis of major themes, characters, and more.
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Traditional economists following in the footsteps of Adam Smith argue “first comes barter, then money; credit only develops later” (21). How does Graeber question this conventional narrative? Provide at least three archaeological or ethnographic examples that counter the prevailing assumptions about the history of money.
Compare and contrast the barter and primordial debt theories. Why does Graeber reject both theories?
What is morality? Why is framing all of morality around the language of commercial transactions problematic? What alternatives does Graeber propose for how to conceive morality?
What are human economies and what is the role of money in them? How do human economies transition to market economies? How are women impacted by this transition?
What is the role of violence in the origin of our modern economy?
What is the relationship between honor and slavery? Compare and contrast examples from human and market economies.
Graeber argues “there is a shape to the past, and it is only by understanding it that we can begin to have a sense of the historical opportunities that exist in the present” (212). Describe the shape that the history of money takes in the First Agrarian Empires, the Axial Age, the Middle Ages, and the Age of Capitalist Empires. Do you agree with Graeber that understanding this history will help us better navigate the new phase of financial history that we are currently in? Why or why not?
What is capitalism? Graeber suggests that capitalism is doomed and has the potential to “bring the rest of the world down with it” (390). Does the evidence support his claim?
Where did our conceptions of freedom come from? How has its foundations impacted the formation of markets? What concerns does Graeber raise about the current relationship between freedom and money?
Graeber takes a comparative approach to explain the history of debt over the last 5,000 years. Do you think this was the right approach to take? Are there areas where Graeber might have over-interpreted data? How would Graeber respond to your argument?
