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

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CHAPTER

The Importance of Wealth Addiction in Economics

The pursuit of an addiction is the main corruptor and the destroyer of society. The Babylonians had a mathematical model far superior to any mathematical model that's used anywhere in the United States or the Western world. When people couldn't pay, they lost their land and they lost their liberty, and they fell into bondage to their creditors. And so the job of a ruler is to restore order by bringing debts back in line with the ability to pay. Nothing like this occurred in Greece and Rome.

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