The unmourned death of the double coincidence

Yet more on Graeber’s book, this time from John Quiggin.

The unmourned death of the double coincidence:

Graeber shows, convincingly enough for me, that the story conventionally told by economists, in which money emerges as a replacement for barter systems, is nonsense. In fact, as he notes this point has been made by anthropologists many times and ignored just as often. Thanks to the marvels of auto-googling, I’ve been aware for some time that my namesake, Alison Hingston Quiggin gave the definitive demonstration long ago in her ‘Survey of Primitive Money’. Graeber sharpens the point by arguing that the real source of money is as a way of specifying debts.

 

(Via Crooked Timber)

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