Debt By David Graeber And The Great Transformation By Karl Polanyi
Paper 1:
Debt by David Graeber & The Great Transformation by Karl Polanyi
How did we find ourselves in a Capitalistic society and when did decide in that direction? Individual gain is precisely what influenced major changes within our economic structure. David Graeber and Karl Polanyi are both influential financial gurus whose ideas on finances, debt, money and capitalism; gives their audience a different perspective. Both Graeber and Polanyi give their own insight on why they believe our current system has flaws; showing that our past greatly affected the way we handle finances today.
As stated in the book, The Great Transformation; a transformation took place in which people used to trade with others because of redistribution, reciprocity or householding. “Whether the very different entities of the family or the settlement or the manor formed the self-sufficient unit, the principle was invariably the same, namely that of producing and storing for the satisfaction of the wants of the members of the group” (56). This shows that we started our economy based off of helping one another, self gain was not something that was normal yet because people would not have survived without others. The terrain and natural environment …show more content…
Capitalism was not a gradual process but took place so that there could be individuals on the very top and then people that were at the bottom of the financial scale. He states “ We have become too much accustomed to think of the spread of capitalism as a process which is anything but peaceful… (16). The quote clearly states that we changed to capitalism because of personal gain. Polanyi talks more in depth about this quote stating that many wars were started over resources. People began to think less communal and more individual to take care of their personal
Debt by David Graeber & The Great Transformation by Karl Polanyi
How did we find ourselves in a Capitalistic society and when did decide in that direction? Individual gain is precisely what influenced major changes within our economic structure. David Graeber and Karl Polanyi are both influential financial gurus whose ideas on finances, debt, money and capitalism; gives their audience a different perspective. Both Graeber and Polanyi give their own insight on why they believe our current system has flaws; showing that our past greatly affected the way we handle finances today.
As stated in the book, The Great Transformation; a transformation took place in which people used to trade with others because of redistribution, reciprocity or householding. “Whether the very different entities of the family or the settlement or the manor formed the self-sufficient unit, the principle was invariably the same, namely that of producing and storing for the satisfaction of the wants of the members of the group” (56). This shows that we started our economy based off of helping one another, self gain was not something that was normal yet because people would not have survived without others. The terrain and natural environment …show more content…
Capitalism was not a gradual process but took place so that there could be individuals on the very top and then people that were at the bottom of the financial scale. He states “ We have become too much accustomed to think of the spread of capitalism as a process which is anything but peaceful… (16). The quote clearly states that we changed to capitalism because of personal gain. Polanyi talks more in depth about this quote stating that many wars were started over resources. People began to think less communal and more individual to take care of their personal