Debt is the borrowing made from someone and will have to pay it at some specific time period.It is generally done with the intention to fulfill the needs of the borrower by seeking the help from the lender.
Debt sometimes becomes so vicious that the borrower fails to pay back the money.It creates the problem to the borrower where he finds himself helpless to payback the borrowed money..
Topic: What is Debt? - page 6. (Read 6583 times)
I find it stunning that debt came before money but it makes sense.
Better said debt was used as money before coin was used as money, according to him.
Most surely, a debtc an be of many types including economic, honor, gratitude, etc... Basically, If I do a favour to someone it is likely that he has a debt even if it is not explicit nor enforceable. That makes it a tool for commerce.
I found this an interesting interview about the history of money and debt.
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Very nice website. Debt was not a system that evolved from the bater exchange but rather a natural system of sense when it comes to transactions. It is like a second nature in us that we would feel a little less when someone owes a thing or money from us. From that psychological state, we adapt by making things equal and fair. Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
I find it stunning that debt came before money but it makes sense.
Better said debt was used as money before coin was used as money, according to him.
Most surely, a debt can be of many types including economic, honor, gratitude, etc... Basically, If I do a favour to someone it is likely that he has a debt even if it is not explicit nor enforceable. That makes it a tool for commerce.
I found this an interesting interview about the history of money and debt.
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
In my thought, debt is something that you have to pay. With how much the amount you borrow is also the amount of your debt which is compulsory for you to pay.
For me debt is acquiring something by means of borrowing with terms and conditions. At business it is an obligation to pay, if not sunctions and penalties will be dealt according of what is being agreed by both parties.
I found this an interesting interview about the history of money and debt.
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
In my thought, debt is something that you have to pay. With how much the amount you borrow is also the amount of your debt which is compulsory for you to pay.
I found this an interesting interview about the history of money and debt.
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
debt in a simple words is something personal,or physical form that you most owed or due to a person or a bank that you must paid in several days or months according to the terms or resolution of the contract. Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.
Debt is like addiction for me,it may help you for the main time but make most suffering in the long run.Though there are so many kind of debt,it maybe bad or good depends on how you apply it.Also,it maybe financially debt or a good deed by someone that favorably making u debt in return for example someone save your life,so as we usually do,we have to offer a reward as nature to us human individual or for our logical thinking,we did have a debt on that someone for saving our life.
Nice article. Unfortunately, people think of debt and use the phrase debt only when money is involved and that is not exactly correct.
Debt encompasses goods, promise and delivery, attention, idea etc but all has the same connotation of paying back.
Debt encompasses goods, promise and delivery, attention, idea etc but all has the same connotation of paying back.
Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.
Debt is like addiction for me,it may help you for the main time but make most suffering in the long run.Though there are so many kind of debt,it maybe bad or good depends on how you apply it.Also,it maybe financially debt or a good deed by someone that favorably making u debt in return for example someone save your life,so as we usually do,we have to offer a reward as nature to us human individual or for our logical thinking,we did have a debt on that someone for saving our life.Debt is something like a commitment to pay money, carry goods or render services under implied consensus or agreement. Applying expected income and future procurement power in the present before it was actually been earned. Debt is something an individual may need to acquire which is very necessary in times of financial hardships and must be address once you have the capacity to pay to prevent additional interest rates from blowing up.
To myself that a reading that can increase the science and for myself.
Debt is like an Apple taste bite. Tasting first is good. Then you want more of Apple. Debt is pushing the debtors to do it again nd again until you are in chain of debt. This is sometimes sickness of attitude a harmful habit.
Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.
Debt is like addiction for me,it may help you for the main time but make most suffering in the long run.Though there are so many kind of debt,it maybe bad or good depends on how you apply it.Also,it maybe financially debt or a good deed by someone that favorably making u debt in return for example someone save your life,so as we usually do,we have to offer a reward as nature to us human individual or for our logical thinking,we did have a debt on that someone for saving our life. 
Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.
Debt is when you borrow money that you do not have in order, usually, to fund some business or something that will make you more money in the long run than the interest you are paying on said debt. I do not really like the concept of debt because it essentially makes you a slave. You will have no choice but to work and become a minion for your lender who will sit back and collect profits on your work for doing nothing at all.
debt it's a nightmare of our life 
, can activate your cancel cells because of stress, if you can't pay on the deadline period.
don't borrow a money or things that you can't pay back...
, can activate your cancel cells because of stress, if you can't pay on the deadline period.don't borrow a money or things that you can't pay back...
I found this an interesting interview about the history of money and debt.
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Debt is a responsibility and a liability. It is something borrowed that you have to return or pay with interest. If you dont pay it on time, a certain percentage will be paid and becomes a liability. But if you paid on time, then it became your responsibility. Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Quote
David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
I like quasi thermoeconomic models which might model money as being energy, with debt representing energy consumption or the conduction/transmission of energy. Then larger abstractions such as finance or economies could be modeled somewhat like abstract engines where the efficiency of energy consumption would need to retain a certain degree viability for economies/finance to function.
To some degree, it is possible the "something for nothing" mentality which is somewhat pervasive in culture right now, is overwhelming tit-for-tat common sense illustrating the limits of things like deficit or debt, which leads to economic instability and reduced living standards for all.
When an engine no longer produces more energy than it consumes, it ceases to function properly. An excess of deficit or debt which contributes towards economic/financial inefficiency could well have a similar effect.
To some degree, it is possible the "something for nothing" mentality which is somewhat pervasive in culture right now, is overwhelming tit-for-tat common sense illustrating the limits of things like deficit or debt, which leads to economic instability and reduced living standards for all.
When an engine no longer produces more energy than it consumes, it ceases to function properly. An excess of deficit or debt which contributes towards economic/financial inefficiency could well have a similar effect.
Excellent article, thanks for posting it.
Yes, it was interesting to read. You had to filter his obvious marxist views, but its worth the read.
Quote
The issue of capitalism is one that I think isn't as clear, though. I find capitalism to be more of an observation of natural behavioral interaction. Whereas communism, socialism or other forms of centralized governance describe a structure to be maintained, capitalism is an observation of an order that arises naturally. This is actually very well examined by Eric S. Raymond in The Cathedral and the Bazaar.
I think the titles capitalism and socialism are worthless. There are too many ideologies under those tents, even opposing ones inside the same tent, that it does not tell you anything that someones call himself socialist or capitalist.
Debt is a duty or obligation to pay money, deliver goods, or render service under an express or implied agreement. One who owes, is a debtor or debitor; one to whom it is owed, is a debtee, creditor, or lender.
Use of debt in an organization's financial structure creates financial leverage that can multiply yield on investment provided returns generated by debt exceed its cost. Because the interest paid on debt can be written off as an expense, debt is normally the cheapest type of long-term financing.
Use of debt in an organization's financial structure creates financial leverage that can multiply yield on investment provided returns generated by debt exceed its cost. Because the interest paid on debt can be written off as an expense, debt is normally the cheapest type of long-term financing.
Jump to: