David Graeber - Debt Quotes

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If we insist on defining all human interactions as matters of people giving one thing for another, then any ongoing human relations can only take the form of debts.

David Graeber
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.

David Graeber
What is a debt, anyway? A debt is just the perversion of a promise. It is a promise corrupted by both math and violence.

David Graeber
A legitimate enterprise had to have some moral basis, and the only morality the company knew was debt.

David Graeber
Consumer debt is the lifeblood of our economy. All modern nation states are built on deficit spending. Debt has come to be the central issue of international politics. But nobody seems to know exactly what it is, or how to think about it.

David Graeber
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.

David Graeber
Meanwhile, the U.S. debt remains, as it has been since 1790, a war debt: the United States continues to spend more on its military than do all other nations on earth put together, and military expenditures are not only the basis of the government's industrial policy; they also take up such a huge proportion of the budget that by many estimations, were it not for them, the United States would not run a deficit at all.

David Graeber
As it turns out, we don't "all" have to pay our debts. Only some of us do.

David Graeber
If history shows anything, it is that there's no better way to justify relations founded on violence, to make such relations seem moral, than by reframing them in the language of debt—above all, because it immediately makes it seem that it's the victim who's doing something wrong.

David Graeber
The criminalization of debt was the criminalization of the very basis of human society.

David Graeber
Indeed, India has become notorious as a country in which a very large part of the working population is laboring in effective debt peonage to a landlord or other creditor.

David Graeber
We are watching the beginnings of the defiant self-assertion of a new generation of Americans, a generation who are looking forward to finishing their education with no jobs, no future, but still saddled with enormous and unforgivable debt.

David Graeber