ANT378H1 Lecture 5: Lecture 5 - Debt - February 4
Document Summary
This week: contemporary debt studies, writing exercise, graeber"s arguments about debt, debt in terms of , key terms. Debt in canada/north america: household debt has been significantly rising above annual income since 1990, student debt has also increased significantly, shit is getting bad and stuff. Graeber"s argument in: refuting the origin story of the history of currency/barter/exchange and claims adam. Gifting also had interest; potlatches had to be bigger and better than the. Home ownership in israel: houses have both exchange value and use value. Israeli buyers focus on use value though; emphasis is on security and stability. Considered as investments, home purchases defy the logical of rational choice. (weiss, The flaw in rationality lies not in her decision-making, but in the social and economic conditions that make her decision inevitable. (145) Mortgage investments are a social constraint masquerading as an outcome of their decisions. (135) Review of terms: debt vs. obligation, predatory lending, structure-agency, microcredit, debt slavery, neo-bondage.
