The Barter Theory Myth Vs the Credit Theory Of Money Reality | Discussing David Graeber

We compare the prevailing economic paradigms based on David Graeber's 'Debt: The First 5000 Years'

Full Episode: https://youtu.be/tl0H4C2xb44

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Delve into the barter theory of money and discover why it’s widely contested as a barter economy myth, a notion still lingering in economic textbooks barter theory despite lacking historical grounding. The credit theory of money steps in as a fascinating counterpoint, redefining money evolution by spotlighting credit based economies and the role of IOU and money creation over the impractical double coincidence of wants often tied to primitive societies money stories. Renowned anthropologist David Graeber money origin arguments dismantle these myths, emphasizing how state authority and money forged a powerful alliance, with taxes and currency value serving as key drivers in establishing monetary systems. This journey through the history of money stretches from medieval credit systems to the era of gold and silver as money, revealing the social construct of money as far more than a simple exchange tool. As monetary policy history unfolds, the roots of digital currencies origin come into focus, echoing the trust and value in money that shaped economies long ago. By examining modern economic practices, this exploration connects past and present, offering a deeper understanding of how money continues to evolve and influence our lives in profound ways.