Add sections to the bookbuilder: Debt, Inequality and the Logic of Financial Violence (David Graeber)

 

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Debt, Inequality and the Logic of Financial Violence
ROAR: It’s been five years since thousands of protesters marched into Lower Manhattan, occupied Zuccotti Park and inspired an international movement against the rule of finance. You played an active part in the early days of the movement in New York. In hindsight, what do you consider to have been Occupy’s most important legacy? And what have been the main challenges it has faced in building and sustaining a democratic counter-movement to the power and privileges of the 1 percent?
Beside your activism, you are probably best known for your bestselling book, Debt: The First 5,000 Years, which was published just before Occupy began. The book brilliantly depicts the continuity of a number of key themes throughout the ages, like the morality of debt and the persistence of violence in its enforcement. To what extent should we conceive of the emergence of capitalism — and its highly financialized contemporary form in particular — as a break with pre-existing historical patterns; as something new and fundamentally different? Does debt fulfill the same role in ancient Sumer or Axial Age India as it does in the capitalist world-system today?
One key question we aim to address in this special issue is where the sources of the power of finance really lie, and how best to fight it. Many liberal critics of finance focus on regulatory capture, the revolving door between Washington and Wall Street, and the corrosive power of money in elections. This appears to suggest that the best way to limit the power of big banks would be to enforce strict regulation of financial markets, political staffing and campaign finance. It seems to me that your work identifies a number of more deep-seated concerns. What, in your reading, should the radical left and the movements really be looking at to curtail the power of finance?
You have recently come to the defense of Jeremy Corbyn following the attempted “chicken coup” against him by the Blairite wing of the UK Labour Party. As an anarchist, how do you feel about Corbyn’s economic proposals and his stance on the City of London? Let’s imagine he were to survive the leadership challenge and win the next elections — is there anything you would advise him or his supporters to do differently, or to pay particular attention to?
You have also come out in support of an initiative known as “quantitative easing for the people.” Could you briefly explain what “QEP” is about, and why you support it?
What would you say to those who, understandably, feel overwhelmed by the immense power of finance and who are convinced that “resistance is futile”? What can be done at the everyday level to overcome this sense of resignation and re-empower our communities? Are there any particular struggles — past or present — you would point to for lessons or inspiration?
Final question: we would be very curious to hear what you are working on at the moment, and how your current research projects fit in with your past anthropological work on money and debt, and your ongoing activism against inequality and the power and privileges of the 1 percent.
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