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“Those crimes were necessary to create a free market payday loans big spring tx.”
Even wealthy elites in ancient times knew that debt caused serious problems and that those problems were caused by greed. Socrates wrote about that. So Solon canceled the debts in Athens. The Greek Stoics wrote about this and Livy in Rome together with other important Roman historians.
But how do we deal with this problem now? Are there laws that prevent rich creditors from reducing the rest of the population to slavery? Is the economy understood in a social context?
Rees Jeannotte: When you read your book, there are moments where “the light goes on.” But one thing that caught my attention, the revolutions began when the ruler refused to cancel the debts. What would be the modern equivalents of these ancient institutions, such as the palace and the temple?
Michael Hudson: What I discovered, studying Bronze Age Mesopotamia, was very different from what modern society is. In the 1970s, working at the Hudson Institute and The Futures Group, I became known as an “expert on the future.”
But, it seems it is easier to forecast the future than to understand the Bronze Age palaces and temples in Mesopotamia.
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