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Origins of debt: Michael Hudson reveals how financial oligarchies in Greece & Rome shaped our world

Geopolitical Economy Report

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The Importance of Forgiveness of Debt

Socrates said if you repay a monetary debt to somebody and this monetary debt is going to make an oligarchy rich then the creditor will get very egotistical. So that's really the you need to have a ruling class that is not so egotistical and self-centered that it's pushing for its own economic benefit. You cannot enrich a violent country that is acting a socially to destroy other people out of its hubris. That's though literally the plot of the republic the Plato wrote to explain Socrates logic.

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