Crossposted from https://fedia.io/m/historymemes@piefed.social/t/4518293
David Graeber’s Debt: The First 5000 years in a memeshell (actually no the book is about much more than that).
Gonna hope meming about radical literature counts for this comm.
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This is how rich countries keep poor countries in poverty
This is actually part of what prompted Graeber to write the book (mediated through a random conversation). According to Graeber, across the ages debt has been one of the main ways people have justified regimes based on violence.
World Bank Development projects, they say their IRR is 24%, but that’s hard to measure.
What’s not hard to measure is the 20-25 years most loan recipients are in payback mode.
