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Exchange is all about equivalence. It’s a back-and-forth process involving two sides in which each side gives as good as it gets. This is why one can speak of people exchanging words (if there’s an argument), blows, or even gunfire.25 In these examples, it’s not that there is ever an exact equivalence—even if there were some way to measure an exact equivalence—but more a constant process of interaction tending toward equivalence. Actually, there’s something of a paradox here: each side in each case is trying to outdo the other, but, unless one side is utterly put to rout, it’s easiest to break ...more
Debt: The First 5,000 Years
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