Debt Cancellation: Mesopotamia as a Model of Long-Term Economic Engineering

Does abolishing debt lead to irresponsible behavior on the part of debtors? Can forcing people to pay debts have unintended negative consequences further down the road for society. In this overview of Michael Hudson’s latest book on the social importance of debt forgiveness, Hudson uses ancient Mesopotamia as a model for how to handle debt. Mesopotamia was far ahead of the economic policies of the Greeks and the Romans.