Viewed: 11 - Published at: 9 years ago

asked. As a result, while credit systems tend to dominate in periods of relative social peace, or across networks of trust {whether created by states or, in most periods, transnational institutions like merchant guilds or communities of faith}, in periods characterized by widespread war and plunder, they tend to be replaced by precious metal.

( David Graeber )
[ Debt: The First 5,000 Years ]
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