It's strange that you would trust a fund manager like Edward Chancellor over a trained anthropologist like Graeber on historical research. The price of time looks a at a small sliver of debt through the eye of interest rates and their impacts.

Chancellor's axe to grind is clear, that manipulation of interest rates by central governments has led to economic instability. Yet historically emperors, kings, and other rulers would periodically wipe the slate clear because debt enslaved too many people causing instability.

Read Graeber's book. It's better researched.