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Pricing the Infinite

More stuff worth reading as the market grinds nowhere. From Crooked Timber.

“The notion of infinite debt comes in when this logic slams up against the Absolute, or, one might perhaps better say, against something that utterly defies the logic of exchange. Because there are things that do. This would explain, for instance, the odd urge to first quantify the exact amount of milk one has absorbed at one’s mother’s breast, and then to say that there is no conceivable way to repay it.” – David Graeber, Debt

“Could all of this be thought ‘a normal upbringing’? Everyone seemed to think so and my parents, bless them, paid for it. So much that my father proudly presented me with a complete set of receipts on my twenty-first.” – Derek Jarman, At Your Own Risk

…and another “interesting fact”…
As of 2009, 37 percent of American households headed by someone under 35 have more debts than total assets, which doesn’t even count over half of those under 24, who live with their parents. That’s a recipe for social instability, an organization less structurally sound with regard to popular uprising, Graeber would argue, than most slave societies. (Full article here.)

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