go away

David Graeber: An anthropologist who studied people in central Nigeria showed us how we were completely clueless. She doesn’t really speak the language and she gets a house, and immediately women start showing up from the neighborhood and dropping off little baskets of stuff: somebody bringing some okra, somebody bringing some fish. And she doesn’t know what to do so she takes out her little notebook and eventually somebody takes pity on her and starts explaining how things work. The person says, “Well, you know, you give something back to these people. But the key is you have to figure out exactly what it’s worth, and then give them either something slightly more valuable, or slightly less valuable. So if it’s worth twelve shillings, you give them something worth eleven or thirteen, never give twelve. Because if you give twelve, that’s like saying, ‘go to hell, I don’t ever have to see you again.’” So everyone has to be a little bit beholden.

DG at Guernica,  the rest here

The guiding principle of Graeber's sweeping global history is that debt must not remain the exclusive property of economic historians, and moreover, that anthropologists are better equipped to take on the issue. The foundational myth on which economics rests, and which Graeber relishes debunking, is the "touchingly utopian" idea that money emerged directly out of primitive barter systems and had only to do with interest-maximizing exchange. Arguing against this from an anthropological perspective, Graeber claims that debt is the basis of society, and as such is inherently ineliminable. He illustrates this point through the example of debt to one's parents: to seek to cancel that debt would be impossible. Graeber describes a system of gift-giving in traditional societies that takes place over time, and involves gifts of slightly more or less value than the ones that preceded them, thus ensuring that everyone is always slightly in debt or in credit to everyone else. This sort of debt, he says, is nothing less than the continual creation of society. It is not so much that we owe something to society, but that society "just is our debts."

Justin E H Smith on Debt, by David Graeber, at Bookforum, the rest here (courtesy Wood s Lot)