Origins of debt: Michael Hudson reveals how financial oligarchies in Greece & Rome shaped our world
Geopolitical Economy Report
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The History of Debt
In the ancient Near East debt was regularly forgiven and we talked about today of course there are many different economic models. The Sumerians from the middle of the third millennium BC had an economic model that they trained their students in. Babylonian textbooks were much more mathematically sophisticated than anything that comes out of the National Bureau of Economic Research today on the compound interest rate.
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