However, there’s no actual evidence that bartering preceded money. Money was invented only to facilitate bartering later, the idea of credit was introduced. how religion played a part in keeping people out of debt.Įconomic history textbooks tell us that the earliest human exchanges were based on a bartering system.why during wartime, soldiers paid in cash and family friends on credit and.how the concept of credit actually precedes printed coins or money.In this summary of Debt by David Graeber, you’ll know These informative book summary, chock-full of fascinating facts and anecdotes, are a must-read for anyone curious about how we as a society have “done business” throughout the ages. Through peace and war, village life and city life, how we count coins and how we deal with debt has evolved tremendously. Our ancestors didn’t live in simplistic bartering societies, as so many school books might have you believe debt as a concept has been around as long as humans have had needs and goods.Īuthor David Graeber dials back the clock and takes a look at the origins of money, and how its use and utility has changed through history.

The concept of debt goes not only as far back as ancient Egypt, but even further, to the first agrarian societies. Yet this ancient rock is in fact a legal document, pronouncing amnesty for debtors and prisoners.

The actual text of the famous Rosetta Stone is often overlooked, given the stone’s importance in helping archaeologists crack Egyptian hieroglyphics.

David graeber history of debt