David Graeber – Tyson Adams

Book Review: Debt The First 5,000 Years by David Graeber

Debt: The First 5,000 Years by David Graeber
My rating: 3 of 5 stars

Invent money so you can take it off of people… Ingenious?

Debt: The First 5,000 Years is a comprehensive dive into the history of money, credit, and society/economy. It acts as a direct refutation of the commonly taught economic ideas about money and exchange systems that make up our economies (past and present). In doing so, Graeber draws on countless examples, historical evidence, and anthropological research to outline the major flaws with our current economic system.

This book was a very important read. It doesn’t just overturn many assumptions, it shows how those assumptions are taught as fact to perpetuate our current system. But probably the most important point Debt makes is that our current system doesn’t fully account for the human economy which means it will ultimately fail and we need to replace it with a system that does account for everything.

That said, at about halfway through Debt I found myself starting to wave my hand for Graeber to move it along a bit. At two-thirds, I was signalling for him to wrap it up already. Having read several of Graeber’s books and essays now, I feel Debt was his most important but also most meandering. In some ways, it reminded me of Das Kapital in this respect.

I fully expect this book will be ignored by economists, with fists firmly shoved into ears. You should probably read it though.

Comments while reading:
I’ve heard the barter (myth) explanation so many times. But now that I’ve read some examples of where that isn’t used, or is used quite differently from what we conventionally are told happened in the past, you realise that its pretty much a whole-cloth nonsense. I mean, who’d have thunk that sharing would have been common among our ancestors? It’s still common today when things go pear-shaped. So bloody obvious.

MMT explainer on the creation of money. Having read about MMT (Modern Monetary Theory) in Stephanie Kelton’s book, seeing it used here only reinforces both texts. Someone needs to create a market, hand out credit and demand a proportion be repaid. Goods are exchanged. Eventually, money turns up as an accounting measure.

Interesting side note about the Hindu philosophy of Nyaya that rivals pre-Socratic philosophy. It has an interesting idea about how logic shouldn’t be doing a content-independent “formal language” but instead incorporating logic with content in the language of the philosophy. They also independently came up with atomism. Funny how we don’t hear Nyaya discussed but we are hammered with “western philosophy”. https://en.wikipedia.org/wiki/Nyaya

Two-thirds through and I’m signalling for Graeber to wrap it up. I understand that when overthrowing orthodoxy you’re going to have to show your work… but I kinda feel like the point could have been made in a few hundred pages less.

Summary: the orthodox view of money and the economy is wrong. It doesn’t correctly understand nor value the entirety of our human economy, which is more correctly a credit system. The credit system is actually how our society works, thus we have to move our economic system to one that utilises this. Essentially, mutual aid and trade. The evidence for this is seen in every community, every time there is a disaster, and throughout history. /end.

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Book review: The Utopia of Rules by David Graeber

The Utopia of Rules: On Technology, Stupidity, and the Secret Joys of Bureaucracy by David Graeber
My rating: 5 of 5 stars

Profitable paperwork? This world makes no sense.

The Utopia of Rules is a collection of David Graeber’s essays around bureaucracy. He dives into where bureaucracy came from, how it was changed by the rise of large private companies, how this is impacting society, and how we secretly love all this stupid stuff just a bit too much. Graeber combines history, illustrative anecdotes, anthropology, and insights that you realise have been staring you in the face for years. He also argues that we’ve largely accepted bureaucracies as they now stand, but because of the implications for power relations, we should try to change or remove them.

With the recent passing of David Graeber, I thought I should read some more of his work. I’ve previously read the excellent Bullshit Jobs and wanted to dive into some of his other work. That lead me to his essay Of Flying Cars and the Declining Rate of Profit which in turn lead me to The Utopia of Rules. That essay is incorporated and expanded in this book to bring it into the main thesis. Other sections similarly come from essays published elsewhere, so if you’ve already read many of Graeber’s essays and articles, you’ll recognise a lot of the material here.

I think one of the most interesting insights from Utopia of Rules was how bureaucracy has morphed from the civil service that ran society (and was a great place to park stray aristocrats and military officers) into the bureaucracy of big business. Some will bristle at this insight until they realise that “cost recovery”, “KPIs”, and “performance reviews” are in all big organisations, regardless of them being public or private. This builds on Graeber’s insights from Bullshit Jobs, that showed the private sector was often more guilty of waste, mismanagement, paperwork, etc. to the point of creating entire useless jobs to do them.

How this bureaucratic system is then used to exploit the public, uses implicit and explicit violence, and obfuscates accountability is also interesting. Graeber’s example of trying to apply for health insurance for his mother is how companies profit. They effectively keep money for the company/government that is due to the public they are meant to be servicing.

This is also where I disagree slightly with Graeber. In a complex society, there is a need for some level of organisation (bureaucracy). Is it a good idea to have a senior research scientist spend a large part of their time filling out paperwork, applying for funding, and reporting to the funders rather than doing research? Well, no. But is it a good idea for that researcher to just get money and do whatever they feel like without any reporting? Well, no. As much as no researcher is just going to blow their grant money on a sports car and Columbian Marching Powder, the paperwork is meant to create a solid research plan, figure out what underlings they’ll need, and get the creative work solidified (hypotheses, designs, etc). That the paperwork doesn’t really achieve this is something that needs to be criticised, especially as the reason it fails and is needlessly time-consuming and complex is because of that private company influence Graeber outlined.

And Graeber argues that bureaucracies are no longer analyzed or satirized. This is a large part of the problem. We experience them every day, but those with power effectively stifle any input we have to reforming them. Satire and social critique are a useful tool in this regard, which I assume is why Graeber’s review of The Dark Knight Rises was included. He uses it as an example of institutional power using popular media to control the narrative and condemn social critique and movements.

Overall, I enjoyed The Utopia of Rules and look forward to reading more from Graeber, particularly Debt.

“I asked him why everyone was still waiting for even one bank official to be brought to trial for any act of fraud leading up to the crash of 2008.
OFFICIAL: Well, you have to understand the approach taken by U.S. prosecutors to financial fraud is always to negotiate a settlement. They don’t want to have to go to trial. The upshot is always that the financial institution has to pay a fine, sometimes in the hundreds of millions, but they don’t actually admit to any criminal liability. Their lawyers simply say they are not going to contest the charge, but if they pay, they haven’t technically been found guilty of anything.
ME: So you’re saying if the government discovers that Goldman Sachs, for instance, or Bank of America, has committed fraud, they effectively just charge them a penalty fee.
OFFICIAL: That’s right.
ME: So in that case … okay, I guess the real question is this: has there ever been a case where the amount the firm had to pay was more than the amount of money they made from the fraud itself?
OFFICIAL: Oh no, not to my knowledge. Usually it’s substantially less.
ME: So what are we talking here, 50 percent?
OFFICIAL: I’d say more like 20 to 30 percent on average. But it varies considerably case by case.
ME: Which means … correct me if I’m wrong, but doesn’t that effectively mean the government is saying, “you can commit all the fraud you like, but if we catch you, you’re going to have to give us our cut”?
OFFICIAL: Well, obviously I can’t put it that way myself as long as I have this job …”

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Book review: Bullshit Jobs – A Theory by David Graeber

Bullshit Jobs: A Theory by David Graeber

My rating: 5 of 5 stars

Bullshit is, of course, the technical term.

Bullshit Jobs builds upon David Graeber’s 2013 essay titled On the Phenomenon of Bullshit Jobs. He posits that many of us are working in jobs that we know don’t need to be done, that we could stop doing them and no one would notice. And he suggests that these jobs are bad for us as individuals and society. If you’re nodding at this point, my condolences.

When David’s essay was released in 2013 it was something of a viral hit. It resonated with people.* For evidence supporting his proposed phenomenon, you need look no further than that response. Since then, some studies and a lot of discussions have taken place, which led David to more fully explain his ideas and evidence them with this book. He tries to distinguish between bullshit jobs, shit jobs, and bad jobs, and why they come about.

It is this discussion of the larger system that brings about bullshit jobs that is the most interesting aspect of the book. While the idea of bullshit jobs is still hazy – the definition is subjective when all said and done – the changes to our society, economy, and personhood are well documented and discussed. The combination of this discussion with the theory lends weight to another idea presented within: that the role of jobs in society needs to change.

Currently, we place a large amount of prestige and identity on what we do for work.** Our exchange of labour for money is how we afford to live and often how we understand our contribution to society. But is that all we have to offer? Will we be remembered by our job titles? Does that mean that unpaid work doesn’t have value, either in the identity or contribution sense? The answer to these questions is clearly no, making this discussion a highlight of the book.

This was a very interesting book and tied in well with Rutger Bregman’s Utopia for Realists.

* Nope, I’m not going to comment one way or the other about it resonating with me. That would give away how I feel about my day job slowly killing me.
** One of the first questions you will be asked is, ‘What do you do for a living?’

Update: this review at Current Affairs is also worth a read.

Update Sept 2020: David Graeber has passed. It is sad to hear that someone who got dirt under their nails as well as brought intellectual depth to their work is gone. Rest in Power!

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