History of How Rulers Handled Debt: Michael Hudson

This is a very interesting history of the power struggles within the ruling class about how to handle the problem of debt accumulation. Those rulers who succeeded in staying in power forgave debts. The rulers who didn’t forgive debts lost power. This is obviously pertinent, given the state of Yankeedom today. The first third of the interview is biographical and provocative because it describes Michael’s journey through the Halls of Economic Mordor.
Read/watch webinar of Michael Hudson

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