Origins of debt: Michael Hudson reveals how financial oligarchies in Greece & Rome shaped our world
Geopolitical Economy Report
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The Babylonian Debt Cancellation Philosophy
The Babylonian saw that debts grow faster than the economy at large grows and how is society going to cope with this problem. If you leave the debts in place then you're going to have the debtors lose their freedom, he says. The original wage labor was developed not as saying we're going to pay you a salary to work for us but make you alone by working on our land.
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