“And the Weak Suffer What They Must?”
I always slightly disliked Yanis Varoufakis. Strike that, actually I always thought he’s a bit of a clown. Motorbike-riding, leather-jacket-clad, attention-seeking, populist, arrogant clown. Worst of all, he was part of that annoying movement of European politicians that rejected the narrative I believed in, namely that: One must always pay ones debts.1 EU and its institutions always know what they’re doing. Countries must be extremely careful with public spending and apply strict austerity measures when facing economic difficulties.
David Graeber’s Debt is one of the best books I have read in my life. It is a thorough historical and anthropological investigation into the nature of money and, nomen omen, debt. Across about 400 pages Graeber analyzes all aspects of these: moral, economical and philosophical. He lays out a fresh and somewhat bold view that challenges classical economic theories, namely that debt has been the true essence of human economies for at least 5000 years now, and provides lots of compelling evidence to support this claim.