Documentary Of The Week: Michael Hudson On Debt And Power
Written by John Lounsbury
Michael Hudson sees a future with serious economic dislocations because of excessive private debt that cannot be repaid. Throughout much of history before the 14th century excessive private debt was resolved with debt Jubilees wherein all private debts were cancelled. This happened on a recurring basis in many civilizations past. Debtors were saved from financial serfdom and yet lenders survived to lend again.
Source: http://econintersect.com/pages/contributors/contributor.php?post=202106030353
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