Debt to Elites Cancelled? It’s Been Done Before

For those of us living in declining capitalist societies, the idea of solving economic problems by cancelling debt is hard to imagine. But in ancient Mesopotamia, this is exactly how they dealt with growing inequality. The economic strategy of cancelling debts  was not the result of a revolution. Rather, it was the economic policy of the elites. These elites understood far better than ours do that the consequences of not cancelling debts destabilizes a society.

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