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Capital allocation: Difference between revisions
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{{ | {{essay|banking|capital allocation}}{{quote|The more things change, the more they stay the same.}} | ||
In his remarkable {{br|Debt: The First 5,000 Years}} David Graeber argues that, contrary to popular wisdom and suppositions of Aristotle, Adam Smith and others, money — capital — did not evolve out of a system of exchange or barter. It is a just-so story for which there is no anthropological evidence at all.<ref>See also James Suzman’s {{br|Work: A History of How we Spend Our Time}}</ref> money is more likely to have always represented indebtedness. A means of raising capital against assets without letting go of the assets. | In his remarkable {{br|Debt: The First 5,000 Years}} David Graeber argues that, contrary to popular wisdom and suppositions of Aristotle, Adam Smith and others, money — capital — did not evolve out of a system of exchange or barter. It is a just-so story for which there is no anthropological evidence at all.<ref>See also James Suzman’s {{br|Work: A History of How we Spend Our Time}}</ref> money is more likely to have always represented indebtedness. A means of raising capital against assets without letting go of the assets. | ||