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The Dissenter

#931 Michael Hudson: The Collapse of Antiquity

Apr 22, 2024
Michael Hudson discusses the collapse of antiquity focusing on debt cancellation, creditor dynamics, and the impact of global drought on ancient civilizations. The podcast explores debt and credit systems in ancient societies, the rise of creditor oligarchies in Greece and Italy, the role of wealthy elites, and the historical influence of wealth on Christianity. It draws parallels between ancient debt dynamics and modern neoliberal policies, advocating for alternative financial institutions to combat mounting debts.
01:32:41

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Quick takeaways

  • Debt cancellation in ancient societies prevented social unrest and wealth concentration among creditors.
  • Manipulation of Christianity's teachings supported political agendas and wealthy elite's authority over social justice.

Deep dives

Ancient Societies Operated on Credit

In ancient societies, credit was a fundamental aspect of economic transactions long before the use of money. Compensation for injuries, dowries, and communal gift exchanges all operated on credit, fostering mutual obligations and integrating communities.

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