Even in the Bible, the admonition in the Ten Commandments not to 'covet thy neighbor's wife' clearly referred not to lust in one's heart (adultery had already been covered in commandment number seven), but to the prospect of taking her as a debt-peon...
[A] great embarrassing fact… haunts all attempts to represent the market as the highest form of human freedom: that historically, impersonal, commercial markets originate in theft.
The criminalization of debt, then, was the criminalization of the very basis of human society. It cannot be overemphasized that in a small community, everyone normally was both a lender and borrower. One can only imagine the tensions and temptations ...
At this point we can finally see what's really at stake in our peculiar habit of defining ourselves simultaneously as master and slave, reduplicating the most brutal aspects of the ancient household in our very concept of ourselves, as masters of our...
This is a great trap of the twentieth century: on one side is the logic of the market, where we like to imagine we all start out as individuals who don't owe each other anything. On the other is the logic of the state, where we all begin with a debt ...
Say a king wishes to support a standing army of fifty thousand men. Under ancient or medieval conditions, feeding such a force was an enormous problem—unless they were on the march, one would need to employ almost as many men and animals just to ...
Thomas Jefferson, that owner of many slaves, chose to begin the Declaration of Independence by directly contradicting the moral basis of slavery, writing "we hold these truths to be self-evident, that all men are created equal, and that they are endo...
money has no essence. It's not "really" anything; therefore, its nature has always been and presumably always will be a matter of political contention.
But if Smith was right, and gold and silver became money through the natural workings of the market completely independently of governments, then wouldn't the obvious thing be to just grab control of the gold and silver mines?
In fact this is precisely the logic on which the Bank of England—the first successful modern central bank—was originally founded. In 1694, a consortium of English bankers made a loan of £1,200,000 to the king. In return they received a royal mon...
If history shows anything, it is that there's no better way to justify relations founded on violence, to make such relations seem moral, than by reframing them in the language of debt—above all, because it immediately makes it seem that it's the vi...
Apple Computers is a famous example: it was founded by (mostly Republican) computer engineers who broke from IBM in Silicon Valley in the 198os, forming little democratic circles of twenty to forty people with their laptops in each other's garages.
I am well known by my friends to be a workaholic - to their often justifiable annoyance. I am therefore keenly aware that such behavior is at best slightly pathological, and certainly in no sense makes one a better person.
