Debt
From The Art and Popular Culture Encyclopedia
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"Debt: The First 5000 Years (2011) by anthropologist David Graeber explores the historical relationship of debt with social institutions such as barter, marriage, friendship, slavery, law, religion, war and government; in short, much of the fabric of human life in society." |
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A debt generally refers to money owed by one party, the debtor, to a second party, the creditor. Debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. The term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.
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