Thus money is almost always something hovering between a commodity and a debt-token. This is probably why coins—pieces of silver or gold that are alr… - David Graeber

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Thus money is almost always something hovering between a commodity and a debt-token. This is probably why coins—pieces of silver or gold that are already valuable commodities in themselves, but that, being stamped with the emblem of local authority, became even more valuable—still sit in our heads as the quintessential form of money. They most perfectly straddle the divide that defines what money is in the first place. What's more, the relation between the two was a matter of constant political conversation. In other words, the battle between state and market, between governments and merchants is not inherent to the human condition.

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About David Graeber

David Rolfe Graeber (February 12, 1961 – September 2, 2020) was an American anthropologist and anarchist who was a Reader in Social Anthropology at Goldsmiths. In addition to his academic work, Graeber has a history of both direct and indirect involvement in political activism, including membership in the labor union Industrial Workers of the World, a role in protests against the World Economic Forum in New York City in 2002, and support for the 2010 UK student protests movement. He is co-founder of the Anti-Capitalist Convergence.

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Alternative Names: David Rolfe Graeber David R. Graeber

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“Policy” is the negation of politics; policy is by definition something concocted by some form of elite, which presumes it knows better than others how their affairs are to be conducted. By participating in policy debates the very best one can achieve is to limit the damage, since the very premise is inimical to the idea of people managing their own affairs.

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To tell the history of debt, then, is also necessarily to reconstruct how the language of the marketplace has come to pervade every aspect of human life—even to provide the terminology for the moral and religious voices ostensibly raised against it.

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