Kevin Bayuk: What is the "Next Economy"?

Sacred Economics traces the history of money from ancient gift economies to modern capitalism, revealing how the money system has contributed to alienation, competition, and scarcity, destroyed community, and necessitated endless growth. The book explores avant-garde concepts of the New Economics, including negative-interest currencies, local currencies, gift economies, and the restoration of the commons. Eisenstein considers the personal dimensions of this economic transition and presents a vision that is original yet commonsense, radical yet gentle, and increasingly relevant as the crises of our civilization deepen.

In this book, David Graeber argues that debt has a much longer history than money and that it has played a central role in shaping human societies. He debunks the myth of barter as the precursor to money, instead proposing that credit systems and debt were the primary means of trade. Graeber examines how debt has been used as a tool for social control, influenced law, religion, and politics, and has led to periodic crises and debtor revolts throughout history. The book also discusses the moral and social implications of debt, suggesting that the concept of debt is more complex than a simple economic transaction.