[lbo-talk] Debt

Wojtek S wsoko52 at gmail.com
Wed May 2 17:13:10 PDT 2012


Joanna: "Well, no. At some point he does say that Capitalism is the only system in which debts are never forgiven."

[WS:] I have not gotten to this point yet (I am a slow reader ;)) but if this is indeed what he claims, he is demonstrably wrong. Modern capitalism is the only system in which debt can be written off as in Chapter 7 bankruptcy. Been there done that. Under other systems, you had to sell you family or yourself to pay off debt - which is what Graeber does argue.

-- Wojtek

"Modern conservatism is just a neoliberal gloss on medieval domination."



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