Michael Hudson traces how ancient rulers like Hammurabi used debt cancellation to sustain economies—contrasting it with today’s refusal to curb rentier power. Drawing from decades of research and Bronze Age records, Hudson reveals how debt, land, and monopoly rent now choke productivity in the West. He draws parallels between bank lending and ponzi schemes, redefines GDP, and calls for a return to classical economics. With financialized economies in slow collapse, Hudson urges a reset: ta...
