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We could no more have a universal world market than we could have a system in which everyone who wasn't a capitalist was somehow able to to become a respectable, regularly paid wage laborer with access to adequate dental care. A world like that has never existed and never could exist. What's more, the moment that even the prospect that this might happen begins to materialize, the whole system starts to come apart.
David Graeber
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The essence of U.S. military predominance in the world is, ultimately, the fact that it can, at will, drop bombs, with only a few hours' notice, at absolutely any point on the surface of the planet. No other government has ever had anything remotely like this sort of capability. In fact, a case could well be made that it is this very power that holds the entire world monetary system, organized around the dollar, together.
David Graeber
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Everyone know how compromised the idea of bureaucracy as a meritocratic system is. The first criterion of loyalty to any organization is therefore complicity. Career advancement is not based on merit but on a willingness to play along with the fiction that career advancement is based on merit, or with the fiction that rules and regulations apply to everyone equally, when in fact they are often deployed as an instrument of arbitrary personal power.... As whole societies have come to represent themselves as giant credentialized meritocracies, rather than as systems of predatory extraction, we bustle about, trying to curry favor by pretending we actually believe it to be true.
David Graeber
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Karl Marx, who knew quite a bit about the human tendency to fall down and worship our own creations, wrote Das Capital in an attempt to demonstrate that, even if we start from the economists' utopian vision, so long as we also allow some people to control productive capital, and, again, leave others with nothing to sell but but their brains and bodies, the results will be in very many ways barely distinguishable from slavery, and the whole system will eventually destroy itself.
David Graeber
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In fact, our standard account of monetary history is precisely backwards. We did not begin with barter, discover money, and then eventually develop credit systems. It happened precisely the other way around.
David Graeber
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One element, however, tends to go flagrantly missing in even the most vivid conspiracy theories about the banking system, let alone in official accounts: that is, the role of military power. There's a reason why the wizard has such a strange capacity to create money out of nothing. Behind him there is a man with a gun.
David Graeber
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"Communist society"—in the sense of a society organized exclusively on that single principle—could never exist. But all social systems, even economic systems like capitalism, have always been built on top of a bedrock of actually-existing communism.
David Graeber
Quote of the day
In England, the profession of the law is that which seems to hold out the strongest attraction to talent, from the circumstance, that in it ability, coupled with exertion, even though unaided by patronage, cannot fail of obtaining reward.
Charles Babbage
David Graeber
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Born:
February 12, 1961
Died:
September 2, 2020
(aged 59)
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