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Documentary Of The Week: Michael Hudson On Debt And Power

Written by John LounsburyMichael Hudson sees a future with serious economic dislocations because of excessive private debt that cannot be repaid. Throughout much of history before the 14th century excessive private debt was resolved with debt Jubilees wherein all private debts were cancelled. This happened on a recurring basis in many civilizations past. Debtors were saved from financial serfdom and yet lenders survived to lend again. ....

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America's Neoliberal Financialization Policy vs. China's Industrial Socialism – The Greanville Post


By Michael Hudson
An early Kissinger, Machiavelli presented the amoral choices of realpolitk to his masters.
Financialized industrial capital wants a strong state to serve itself, but not to serve labor, consumers, the environment or long-term social progress at the cost of eroding profits and rents.
Nearly half a millennium ago Niccolo Machiavelli’s
The Prince described three options for how a conquering power might treat states that it defeated in war but that “have been accustomed to live under their own laws and in freedom: … the first is to ruin them, the next is to reside there in person, the third is to permit them to live under their own laws, drawing a tribute, and establishing within it an oligarchy which will keep it friendly to you.” ....

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