14.2.24

The myth of barter


The standard economic-history version has little to do with anything we observe when we examine how economic life is actually conducted, in real communities and marketplaces, almost anywhere - where one is much more likely to discover everyone in debt to everyone else in a dozen different ways.

It seems important, therefore, to begin the story of money in an imaginary world from which credit and debt have been entirely erased. Before· we can apply the tools of anthropology to reconstruct the real history of money, we need to understand what's wrong with the conventional account.

David Graeber
1961 - 2020