What does debt mean to human beings?This study seeks to answer this question by examining ethnographic cases from around the world, inspired by “Debt: The First 5,000 Years” of D. Graeber. During the third period,
considering the current entanglement of “commercial economy” and “human economy,” the study aims to reveal the social contexts in which the specific relationships of indebting” and
“indebted result in the accumulation of wealth through various ethnographic cases from Asia, Africa, and Oceania to discuss the mechanism by which the governance by state and capitalism is emerged, deconstructed, and reorganized.