| > To name just one of Graeber's essential lies: he makes the claim that Federal Reserve issuing American debt is privately controlled and weaves an extensive chapter based in fundamental ways on this misapprehension. No, he does not. This is the only passage I can find where Graeber comes close to what you claim he wrote: “The Federal Reserve—despite the name—is technically not part of the government at all, but a peculiar sort of public-private hybrid, a consortium of privately owned banks whose chairman is appointed by the United States president, with Congressional approval, but which otherwise operates without public oversight.” As has been pointed out to you at least twice in the other comments, this is how the Federal Reserve describes itself. You’ve misremembered Graeber (here I will be charitable to you and not claim that you’ve lied) as saying the Fed is “privately controlled”, and your repeated assertions, as you’re backed into a corner in other threads, depends on this precise misremembering of what he actually wrote. And furthermore, he does not “weave an entire chapter based in fundamental ways on this misapprehension”. The chapter is primarily about the role of the US military, its global domination, and ability to wage war in support of its economic interests, in the proliferation of the USD and its economic power. The paragraphs about the Fed and it’s precise association with the government is basically a sidebar. > Statements of the form "I'm right because I'm important, and that's all I need to say" are not usually tolerated from almost anyone as a substitute for basic, bare truths. That they are accepted here is not only a comment on the character of Graeber but on the character of his followers. I thought you were more acquainted with the long running dispute between Graeber, Delong, and a host of neoliberal/libertarian/Austrian economists. Apparently, you do not realize that the passage I quoted was from the final response that Graeber offered in their long running dispute, a dispute that included answers, in detail, of DeLong’s specious claims. “I’m right because I am important” was not Graeber’s argument, his argument was along the lines of “if “Debt” was so riddled with obvious and crippling flaws, why as it been so influential in economics and anthropology? Why has it led to conferences and it’s own influential body of work that cites it? Why did it lead to a professorship at the London School of Economics? Collaborations with prominent economists?” Given your attack on Graeber is riddled with errors, depends upon a misremembered quote, demonstrates ignorance of the content of his own long-running defense of his book, how are we now to judge your character as you have seen fit to judge me and his other supporters? |
But it doesn't matter, really. Graeber knew the target audience on HN wasn't aware of the debate--why would most of them be aware? He expected the audience to simply accept his greatness without evidence.
[1] https://twitter.com/davidgraeber/status/304604741126721536