Michael-hudson.com Website Review

Included in Martin Wolf's (FT) favourite books of 2018: . . . and Forgive Them Their Debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year, by Michael Hudson, ISLET-Verlag, RRP $29.95 The American economist Hudson has written a fascinating book on the historical antecedents of the Mosaic debt jubilee. The work of As*yriologists has shown that by the third millennium BC, the rulers of the ancient Near East understood the necessity of repeated debt forgiveness. The alternative was, he writes, “economic polarisation, bo*dage and collapse”. The relevance of this history to the world of today seems clear: debt is I'm very excited to announce that my new book,..and forgive them their debts: Lending, Foreclosure and Redemption — From Bronze Age Finance to the Jubilee Year (ISLET-Verlag Dresden), is available now! Thank you! You can learn more about the book below. Michael Copy for book description and advance praise:..and forgive them their debts Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year In..and forgive them their debts, renowned professor of economics, Michael Hudson – and one of the few who could see the 2008 financial crisis coming – takes us on an epic journey through the economies of ancient civilizations. For the past 40 years in conjunction with the Harvard Peabody Museum, he and his colleagues have docu*ented the archeological record and history of debt, and how This is Guns and Bu*ter, October 8, 2018. Transcript The aim of clas*ical economics was to tax unearned income, not wages and profits. The tax burden was to fall on the landlord clas* first and foremost, then on monopolists and bankers. The result was to be a circular flow in which taxes would be paid mainly out of rent and other unearned income. The government would spend this revenue on infrastructure, schools and other productive investment to help make the economy more competitive. Socialism was seen as a program to create a more