The True Origin Of Debt

1257 WordsApr 29, 20166 Pages
The true origin of debt is unknown but research has been able to see many old civilizations that dealt with money. Many argue that money does not buy you happiness however then explain how money dictates the lives we live. Money has a large effect in our lives but we do not realize this until we grow up and become aware of this ourselves. Nevertheless, how was debt created that we would owe an amount of money due to us borrowing it and using it for our personal pleasure? Without going in the topic of debt and money too much, we were taught at a young age how money has created a mass effect. Such as wars have been declared due to finances and using money to buy labor from other humans (slavery) have been the most notorious events that correlates to money. “Surely one has to pay one’s debts,” (Graeber 4) recalled Graeber as he remembered a conversation he had with a women at a party. He defines debt as a central issue on international politics however no one knows much about the topic. In Debt, Graeber claims that debt and credit appeared before money however instead of money. It appeared as the act of bartering with other people. He states that the idea of debt started from one of the first civilizations, Sumer. Mesopotamia was the overall country but Sumer was the southern regions, which is now modern day Iraq. Mesopotamia was one of the first civilizations that first recorded debt systems along with other development ideas. The Mesopotamians were the first to record an
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