"Debt" - Summary

Debt is not a recent invention of modern society, but rather a fundamental part of human history. Throughout the ages, people have borrowed and lent things, and this has led to the creation of various forms of debt. In fact, the concept of debt has been around for so long that it predates money itself.

The author illustrates how debt has been a part of human societies for thousands of years, from ancient Mesopotamia and Egypt to medieval Europe and beyond. In many of these societies, debt was not viewed as a negative thing, but rather as a means of creating social ties and ensuring mutual support.

One of the most fascinating aspects of debt is how it has shaped the development of money. The author shows that the origins of money are not as straightforward as we may think. In many cases, the use of money was actually a way of avoiding debt, rather than a way of facilitating trade. For example, in ancient Greece, money was created as a way of paying off debts owed to the temple.

The author also dives into the relationship between debt, violence, and slavery. Debt has often been used as a justification for violence and war, and has been a driving force behind the creation of slavery and other forms of forced labor.

Furthermore, the concept of morality in relation to debt is explored. Many societies have developed moral codes around debt, which dictate when and how debts should be repaid. These codes have often been used to enforce debt repayment, and have sometimes been used to justify violence against debtors.

Overall, the author shows how debt has had a profound impact on social and economic systems throughout history. From the rise of capitalism to the creation of empires, debt has played a crucial role in shaping the world we live in today.