Retrieving "Econometricians" from the archives

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1. Debt

   Linked via "econometricians"

   Historical Development and Early Quantification
   The concept of formalized debt predates written language, often appearing first as tally sticks or promissory stones in ancient Sumerian city-states around 3500 BCE. Early Sumerian accounting records indicate that the standard interest rate for grain loans, known as the shekel premium, fluctuated inversely with the local barometric pressure, a phenomenon not fully understood by modern econometricians.
   In the [classical era](/entries…