A 4000-year Perspective On Economy, Money, and Debt

YouTube has the video Webinar with Michael Hudson: a 4000-year perspective on economy, money and debt.

The history of money and debt can make us understand more of the economy, the power of the financial elite and how the world is governed today. This is the claim of economics professor Michael Hudson, who has also been an adviser to governments in the USA, Russia and China. Now he comes to Positiva Pengar to tell how history has been a struggle over who should benefit from the ownership, the money and the debts.

The Bible talks about jubilee years that recurred at certain intervals when all debts were written off. This was to correct imbalances that arise in economies over time. When economics professor Hudson in 1994 published his research that biblical debt relief dates back two thousand years to the Babylonian and Sumerian traditions, it was very controversial. Today it is recognized by Assyriologists, but among most economic thinkers the idea is taboo.

Why was debt write-off a matter of course several thousand years ago, but not today? Hudson’s research shows that, as he writes, “Debts that can’t be paid, won’t be paid.” How then will it be resolved? Do you want to know more? Watch this webinar.

I think there is some overlay, but not complete of the Q and A session of this video and the Q and A session of the post that I made previously – Financialization Is Suffocating the Economy. Actually the video in this post was the first part of the Webinar, and the previous post on this blog was the last part of the webinar. (Actually what I call the second part of the webinar is a later webinar that occurred about a month after this one.)

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