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Book cover for Debt: The First 5,000 Years
Actually, the remarkable thing about the statement “one has to pay one’s debts” is that even according to standard economic theory, it isn’t true. A lender is supposed to accept a certain degree of risk.
Marius and 2 other people liked this
Kevin Carson
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Kevin Carson
The enormous interest rate on credit card debt is to cover default risk, because it's unsecured debt. So discharging it in bankruptcy should be pretty much pro forma.
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David Graeber
“The ultimate, hidden truth of the world is that it is something that we make, and could just as easily make differently.”
David Graeber, The Utopia of Rules: On Technology, Stupidity, and the Secret Joys of Bureaucracy

Woody Allen
“You can live to be a hundred if you give up all the things that make you want to live to be a hundred.”
Woody Allen

Bob Black
“Among themselves they quibble over the details. Unions and management agree that we ought to sell the time of our lives in exchange for survival, although they haggle over the price. Marxists think we should be bossed by bureaucrats. Libertarians think we should be bossed by businessmen. Feminists don't care which form bossing takes so long as the bosses are women. Clearly these ideology-mongers have serious differences over how to divvy up the spoils of power. Just as clearly, none of them have any objection to power as such and all of them want to keep us working.”
Bob Black, The Abolition of Work

David Graeber
“We have become a civilization based on work—not even “productive work” but work as an end and meaning in itself.”
David Graeber, Bullshit Jobs: A Theory

Kurt Vonnegut Jr.
“Just because you can read, write and do a little math, doesn't mean that you're entitled to conquer the universe.”
Kurt Vonnegut, Hocus Pocus

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Reading group on the relationship between worker cooperatives and unions as both means of creating workplace democracy
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