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Forgive us our debts

Benjamin Kunkel: The History of Debt, 10 May 2012

Paper Promises: Money, Debt and the New World Order 
by Philip Coggan.
Allen Lane, 294 pp., £20, December 2011, 978 1 84614 510 0
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Debt: The First 5000 Years 
by David Graeber.
Melville House, 534 pp., £21.99, July 2011, 978 1 933633 86 2
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... of foodstuffs, it stood on the brink of a commodities boom, and also had the friendship of Hugo Chavez in Venezuela, who financed his fellow left populists in Buenos Aires on generous terms. Whether or not class struggle is the motor of history, it rarely goes by that name. Coggan attempts to stay above the fray: ‘Economic history has been a war ...

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