SOC345H5 Lecture Notes - Lecture 3: Barter, Accounts Receivable
Document Summary
Context matters and we rely on real life examples. Behavioural economics is concered with effects of psychological social cognitive and emotional factors on the economic deccioins of individuals and institutions. In the book debt, grabber is exploring the history and orgins of debt. We don"t really have a clear idea of what debt is. How do people decide that debt has to be repaid, and how much. In society the role that debt plays depends on the culture, morals and geopolitical context in that society. To explore this topic, grabber take a n over view of the role that debt has played in many societies, explands on 5000 years of human culture. He talks about ppl og brazil, australlia, egypt, He finds that debt or credit arrangements it is old as civilization itself. Debt is a very old arrangement (ppl paid with things and sometimes money) emerged before money and currency. Barter then money + markers then debt (economists)
