Here's what @NickSzabo4 wrote contra David Graeber, five years before "Debt: The First 5000 Years": http://unenumerated.blogspot.com/2006/06/menger-on-money-right-and-wrong.html …
-
@socrates1024@zooko@iang_fc@oleganza They are greatly reduced by substituting collectibles/money-for-services/goods txs for in-kind debt.
@socrates1024 @zooko @iang_fc @oleganza Enforcement of in-kind contracts expensive: value of apples vs. back-scratches --> huge debates.
-
-
@NickSzabo4@zooko@iang_fc@oleganza This supports Graeber: origin of money is to simplify "wet" credit, vs. to simplify barter -
@socrates1024@zooko@iang_fc@oleganza You mean Graeber supports me? I wrote first. BTW it happened 10,000s of years before Sumer. -
@NickSzabo4@iang_fc Agreed :) I'm reacting to@zooko and@oleganza who seem to suggest you and Graeber offer opposing arguments -
@socrates1024@iang_fc@zooko@oleganza Graeber greatly underestimates tx costs of in-kind reciprocation & falsely excludes earlier money. -
@socrates1024@iang_fc@zooko@oleganza A Graeber society would be endless debates & wars over how many back-scratches per apple.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.