Cap on Debt
Book Review: David Graeber, *Debt: The First 5000 Years*. New York: Melville House, 2012.
LIKE MANY CRITICS OF GLOBALIZATION, David Graeber does not seem to understand what capitalism is. Otherwise he would not emphasize time and again that a market economy is something fundamentally different, as he does in his book, Debt: The First 5000 Years. Graeber’s distinction fits with a lot of left-wing currents, from old-fashioned anarchists in the tradition of Proudhon to young militants of Attac. All too many people assume that capitalism simply means financial speculation, intransparent bank dealings, monopolies, or interest as a way to garner income without work, all of which place a burden on the middle class.
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