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September 10, 2011

From Mesopotamia to America's Subprime Slave System

“Still, Graeber’s book is not just thought-provoking, but also exceedingly timely. His sweeping narrative history essentially argues that many of our existing ideas about money and credit are limited, if not wrong. Take how we think that money evolved. In modern society, Graeber argues, economists often assume that money emerged as a medium of exchange to replace barter, while virtual credit developed after that. After all, gold is easier to carry around than sacks of potatoes or cows – and credit cards are a very recent invention.”

Read the full story at The Financial Times

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