ACFM Trip 49: Debt

In this book, James C. Scott examines the failures of centrally managed social plans and the destructive consequences of high-modernist ideologies. Scott argues that states often impose simplistic visions on complex societies, ignoring local, practical knowledge and leading to disastrous outcomes. He identifies four conditions common to all planning disasters: administrative ordering of nature and society, high-modernist ideology, authoritarian state power, and a prostrate civil society. The book critiques various utopian projects, including collective farms, compulsory villagization, and urban planning, and advocates for a more nuanced approach that respects local diversity and practical knowledge.

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[1][2][4].