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Debt and the Collapse of Antiquity – Michael Hudson (pt 1/2)

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CHAPTER

The Circular Triangular Flow of Democracy

Aristotle said that there are many constitutions that call themselves democracy, but they're really oligarchy. Some people get richer than others in democracy evolves into oligarchy. Then he said then the oligarchy makes itself hereditary into an aristocracy and life polarizes until some of the members of the aristocracy say we're killing the whole economy. That's what place the knees did in Athens and 506 BC.

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