In ...and forgive them their debts, renowned economist
Michael Hudson - one of the few who could see the 2008 financial crisis
coming - takes us on an epic journey through the economies of ancient
civilizations and reveals their relevance for us today. For the past 40
years, in conjunction with Harvard's Peabody Museum, he and his
colleagues have documented how interest-bearing debt was invented in
Bronze Age Mesopotamia, and then disseminated to the ancient world. What
the Bronze Age rulers understood was that avoiding economic instability
required regular royal debt cancellations. Professor Hudson documents
dozens of these these royal edicts and traces the archeological record
and history of debt, and how societies have dealt with (or failed to
deal with) the proliferation of debts that cannot be paid - and their
consequences. In the pages of ...and forgive them their debts,
readers will discover how debt played a central role in shaping ancient
societies, and how it continues to shape our world - often
destructively.
...and Forgive Them Their Debts - Michael Hudson
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