Re:Life is fractal, but markets are square
by nybble41 on Thursday June 27, 2019 @09:59PM
(#20300850)
Trading in debt isn't an alternative to markets, it's a market with debt as the currency. Regardless, the "spot trade" as you put it is also older than nation-states, not something they created.
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I good book I suggest is Debt the First 5000 Years by David Graeber. It will blow your mind.
Re:Life is fractal, but markets are square
by nybble41 on Thursday July 11, 2019 @01:22AM
(#20409320)
I've seen it, and didn't find it very convincing. Graeber presents some interesting anecdotes regarding selected ancient social conventions, which may or may not be accurate[1], but—in my opinion—even taken at face value they don't really support his conclusions regarding the nature of debt. Perhaps the book would seem more compelling to someone who already shares the author's worldview.
[1] https://www.bradford-delong.com/2014/12/2014-11-24-mo-ann-le...