The quote in the title is what became the spark in the fire that made this book.
After reading that line, I kept thinking about it, too, especially when our country’s debt has been mounting since the pandemic. Not only that. The consequence of having a debt also looms around ahead of the expected economic crisis that’s yet to come.
From Debt: the first 5,000 Years:
“Surely one has to pay one’s debts.”
The reason it’s so powerful is that it’s not actually an economic statement: it’s a moral statement. After all, isn’t paying one’s debts what morality is supposed to be all about? Giving people what is due them. Accepting one’s responsibilities. Fulfilling one’s obligations to others, just as one would expect them to fulfill their obligations to you. What could be a more obvious example of shirking one’s responsibilities than reneging on a promise, or refusing to pay a debt?
Yes, debt demands a body.
And debt is more than the money in the transaction.
It’s a story.
The power (or effect) of debt also depends on what side of the story you’re on.