Debt: The First 5,000 Years,Updated and Expanded
The principle here is reciprocity, but notice that it is not simultaneous. Unlike the notion of barter, time is allowed to elapse before one deed is repaid by another. Trust is required to bridge that gap. Unlike barter, the exchange is not mechanistic in that it does not place a concrete value on one deed versus another. Rather it is inherently pe... See more
Richard Pickering • Reciprocity as a Business Model
L’idée que les États ont les taux qu’ils méritent s’est réimposée au terme du démantèlement des circuits administrés de financement, où la reconstruction d’une dette obligataire se substitue à une dette dont les souscriptions par la finance privée (et semi-publique) étaient obligatoires (et leurs taux contrôlées).
Benjamin Lemoine • La démocratie disciplinée par la dette (French Edition)
When everything is convertible, and when trust depends on anonymous coins and cowry shells, it corrodes local traditions, intimate relations and human values, replacing them with the cold laws of supply and demand.
Yuval Noah Harari • Sapiens: A Brief History of Humankind
TAKING INTEREST There is one bit of advice given to us by the ancient heathen Greeks, and by the Jews in the Old Testament, and by the great Christian teachers of the Middle Ages, which the modern economic system has completely disobeyed. All these people told us not to lend money at interest; and lending money at interest—what we call investment—i
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