#931

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This show is sponsored by Enlites, Learning & Development done differently. Check the website here: enlites.com/
RECORDED ON APRIL 10th 2024.
Dr. Michael Hudson is President of the Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, and Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of Super-Imperialism: The Economic Strategy of American Empire (Editions 1968, 2003, 2021), “…and forgive them their debts” (2018), The Collapse of Antiquity, and his latest book, Temples of Enterprise.
In this episode, we focus on The Collapse of Antiquity. We start by talking about the historical origins of the notions of debtor and creditor, the invention of debt cancellation, and interest-bearing debt. We discuss the social consequences of not cancelling debts, and the relationship between debt and wage labor. We explore the rise of creditor oligarchies in classical Greece and Rome, the legacy of pro-creditor ideology, and the fall of the Roman Empire. We talk about debt cancellation in early Christianity, and how Catholic doctrine changed over time. Finally, we discuss what we can learn from what happened in Greece and Rome, and our current predicament.
Time Links:
00:00 Intro
00:42 The origins of debtors and creditors
10:30 The invention of debt cancellation
15:42 Interest-bearing debt
21:02 The social consequences of not cancelling debts
25:00 Debt and wage labor
26:11 The rise of creditor oligarchies in classical Greece and Rome
36:46 The legacy of pro-creditor ideology
44:15 The fall of the Roman Empire
47:30 Debt cancellation in early Christianity
1:08:33 What we can learn from what happened in Greece and Rome
1:18:30 Cancelling the debts that countries owe each other
1:22:51 Our current predicament
1:28:17 Follow Dr. Hudson’s work!
--
Follow Dr. Hudson’s work:
Website: bit.ly/3TyMx4z
The Collapse of Antiquity: bit.ly/3tWEK6u
--
A HUGE THANK YOU TO MY PATRONS/SUPPORTERS: PER HELGE LARSEN, JERRY MULLER, HANS FREDRIK SUNDE, BERNARDO SEIXAS, OLAF ALEX, ADAM KESSEL, MATTHEW WHITINGBIRD, ARNAUD WOLFF, TIM HOLLOSY, HENRIK AHLENIUS, FILIP FORS CONNOLLY, DAN DEMETRIOU, ROBERT WINDHAGER, RUI INACIO, ZOOP, MARCO NEVES, COLIN HOLBROOK, PHIL KAVANAGH, SAMUEL ANDREEFF, FRANCIS FORDE, TIAGO NUNES, FERGAL CUSSEN, HAL HERZOG, NUNO MACHADO, JONATHAN LEIBRANT, JOÃO LINHARES, STANTON T, SAMUEL CORREA, ERIK HAINES, MARK SMITH, JOÃO EIRA, TOM HUMMEL, SARDUS FRANCE, DAVID SLOAN WILSON, YACILA DEZA-ARAUJO, ROMAIN ROCH, DIEGO LONDOÑO CORREA, YANICK PUNTER, CHARLOTTE BLEASE, NICOLE BARBARO, ADAM HUNT, PAWEL OSTASZEWSKI, NELLEKE BAK, GUY MADISON, GARY G HELLMANN, SAIMA AFZAL, ADRIAN JAEGGI, PAULO TOLENTINO, JOÃO BARBOSA, JULIAN PRICE, EDWARD HALL, HEDIN BRØNNER, DOUGLAS FRY, FRANCA BORTOLOTTI, GABRIEL PONS CORTÈS, URSULA LITZCKE, SCOTT, ZACHARY FISH, TIM DUFFY, SUNNY SMITH, JON WISMAN, WILLIAM BUCKNER, PAUL-GEORGE ARNAUD, LUKE GLOWACKI, GEORGIOS THEOPHANOUS, CHRIS WILLIAMSON, PETER WOLOSZYN, DAVID WILLIAMS, DIOGO COSTA, ANTON ERIKSSON, CHARLES MOREY, ALEX CHAU, AMAURI MARTÍNEZ, CORALIE CHEVALLIER, BANGALORE ATHEISTS, LARRY D. LEE JR., OLD HERRINGBONE, MICHAEL BAILEY, DAN SPERBER, ROBERT GRESSIS, IGOR N, JEFF MCMAHAN, JAKE ZUEHL, BARNABAS RADICS, MARK CAMPBELL, TOMAS DAUBNER, LUKE NISSEN, KIMBERLY JOHNSON, JESSICA NOWICKI, LINDA BRANDIN, NIKLAS CARLSSON, GEORGE CHORIATIS, VALENTIN STEINMANN, PER KRAULIS, KATE VON GOELER, ALEXANDER HUBBARD, BR, MASOUD ALIMOHAMMADI, JONAS HERTNER, URSULA GOODENOUGH, DAVID PINSOF, SEAN NELSON, MIKE LAVIGNE, JOS KNECHT, ERIK ENGMAN, LUCY, YHONATAN SHEMESH, MANVIR SINGH, AND PETRA WEIMANN!
A SPECIAL THANKS TO MY PRODUCERS, YZAR WEHBE, JIM FRANK, ŁUKASZ STAFINIAK, TOM VANEGDOM, BERNARD HUGUENEY, CURTIS DIXON, BENEDIKT MUELLER, THOMAS TRUMBLE, KATHRINE AND PATRICK TOBIN, JONCARLO MONTENEGRO, AL NICK ORTIZ, NICK GOLDEN, AND CHRISTINE GLASS!
AND TO MY EXECUTIVE PRODUCERS, MATTHEW LAVENDER, SERGIU CODREANU, BOGDAN KANIVETS, ROSEY, AND GREGORY HASTINGS!
#TheDissenter #MichaelHudson #Economics

[@redkellyre6568]

When I hear Michael Hudson's voice my IQ increases

[@chachi958-rg8ju]

Makes perfect sense why none of this is taught in school at any level.

[@polybian_bicycle]

Because the point of school is to train obedient drones.

[@BtK-gn5hb]

I did a finance major at uni and we didn't learn any of these things in the economics subjects. I found out about Michael Hudson and other writers through my own curiosity about money and the financial system. Imo they should be teaching economic history and finance starting from primary school to highschool as a core essential subject, alongside reading and basic arithmetics. It's too important.

[@user-ek9bv6zd6q]

I listen to Michael everywhere. This wonderful man has taught me so much about how this world truly works And I personally thank him so 😊

[@cynnewulf3281]

Yes, I've been digging up every article and video interview with Michael I can find. His articles on Germany are spot on and he even got interviewed by the Berliner Zeitung (semi mainstream paper).

[@AJ-gc5mp]

Please keep it coming, Michael. Your voice is needed everywhere!

[@truthaboveall7988]

Michael Hudson radicalised me years ago 🙌🏽once I understood our economic reality I understood our role on the global stage & our dark history

[@moviemakerjo6756]

'radicalised'?! no, not so much. the radicals are those preventing/blind to structural change across the globe; jamie diamon, rashid sinnuk, ertila-van-dulayen, gorg siros, august carstienz, julienn turdo and many more are the radicals.

[@aliona4817]

And how do you feel now?

[@PNNYRFACE]

Darker

[@bead9609]

Thank you both. Michael, thank you for writing this book, it is very readable for everyone

[@thomaskirkpatrick1134]

Temples of enterprise!!!new book from Dr Hudson!yeah!!!

[@MichaeldeSousaCruz]

Great discussion with Michael Hudson! I’d love to see you interview the man who hired him at University of Missouri at Kansas City, Randall Wray, who also writes on the origins of modern money.

[@TheDissenterRL]

Thanks for the kind words and the suggestion! I've just added Dr. Wray to my list, and I'll try to get in touch with him soon.

[@cynnewulf3281]

Michael Hudson has taught me so much from reading /watching him. A brilliant man. Makes Economics really interesting and comprehensible.

[@kimly8070]

Mr. Hudson is brilliant. We can't understand history without economics.

[@enterestado]

This one is super interesting

[@twelphsoul]

Thank you for sharing

[@Nadanbata]

Excellent talk.

[@NeverCryWolf64]

I learned more in this 90 minutes than in all my formal "education". This was epic and mind blowing.

[@Do-U-Know]

appreciating your generous talks - I'm book shopping you ... Thx very much !

[@Megaghost_]

What he says at the end about neoliberalism being like religion is such on point with what's happening right now in Argentina. The president (Milei) is a free market fundamentalist (libertarian) who proclaims that he was chosen by God itself to rule the country, and last week at a speech he portrayed himself as Moses guiding the investors to cross the red sea... (nobody wants to invest in Argentina). This is an extreme literal example that proves Hudson's point. We have reached the point of madness in its most explicit form, an unhinged president who can't separate economy from religion and cites the bible to argue that the current pope is the representation of evil itself and also a communist.

[@bellingdog]

At the same time, if he followed the Bible, he would have debt cancellation. The year of Jubilee. What happens is people choose which parts of their religion they want to follow.

[@silly3d]

I would like to point out, that in Croatian, Slovenian and Italian ( languages I speak), the prayer Our Father, says forgive us our debts, not sinns like in English version, so apparently there is original version preserved, mostly in Slavic languages. That said, Dr. Hudson is a jewel, we all should be grateful to be able to listen to him while he is still among us and hope he will be for a long time. Thank you Dr. Hudson.

[@skafazzation666]

Wow what a podcast, love it!

[@Drforbin941]

thank you professor hudson

[@annegaynor9627]

More puzzle pieces! Thank you

[@thebeautifulones5436]

I used to think Ancient Greece was the pinnacle of humanity but now I look back longingly at Babylonia

[@Saki-K.]

Have you read what the Hammurabi code was saying? I think you will rethink it when you do!

[@billhammett174]

I love it when he can't recall something - if I had 0.01% of his memory i would be a happy chappy. Prof Hudson is a new voice and another reason I'm a KZbin premium. Thank you...

[@soberthinking2102]

Economist Michael Hudson is a parragon of wisdom. "Wonder leaves enlightened minds, when ignorance no longer blinds." Bk 4: Section V, and Song V: Wonder and Ignorance The Consolation of Philosophy by Anicius Manlius Severinus Boethius (c. 480 - 525) "If Plato's teaching errest not, we learn but that we have forgot." -- Bk 3: Section XI, and Song XI: Reminiscence The Consolation of Philosophy by Anicius Manlius Severinus Boethius (c. 480 - 525)

[@billhammett174]

Cancelling dept due to a harvest crop failure is different than cancelling college debts in the USA today, don't you think? Forgiveness versus a bailout for over-priced colleges, crooked financial institutions, and reckless/feckless youth. Academic point, as it's gonna happen, of course... Apropos the evolution of money (and financial scam games;) - can you provide some thoughts on bitcoin?

[@aminam9201]

Do you really can’t comprehend that what Human wrote is far important than the contents of all your videos?! they are human thoughts (the most precious and valuable thoughts ever)?! Planet of the irrational apes is planet of endless wonders.

[@aminam9201]

I noticed something strange! The comments you leave suggest that you understand what I wrote!

[@aminam9201]

The exact same deep feeling that carries the truth at its core has not changed at all since early childhood! “This is the Planet of the Apes”, it is a terrible punishment! Over time all of this is confirmed to be true! It is as if the essence of Human had been placed in the body of an ape and then imprisoned among the irrational, thieving, sick, filthy apes on planet of the apes ! It's a terrible punishment!

[@totonow6955]

Now read your Bibles through this lens as Jesus actually told. Forgive your debtors...overturn the money lending tables in the temple. Jubilee time. And hands off. Those girls are not your slaves.

[@bellingdog]

I love Professor Hudson, but I don't like his theological tangents. St Cyril of Alexandria did not himself try and kick out the Jews, the parabolani did that. Now, they were Christians and great defenders of St Cyril, but firstly the Jews they were kicking out were Jews - not Messianic Jews, but Jews who rejected Christ and even called Jesus a demon. Now, one can imagine, just as you can today, telling Muslims that Mohammad is a demon what the response would be. St Ignatius, a disciple of the disciple John (the Evangelist) writes about the God, Jesus. In fact, even St Thomas calls Jesus "My Lord and My God" in the Gospel. All in all, I think Professor Hudson could have focused on Acts 2 where they shared all in common. No one was indebted to the other, as debts were forgiven. Now, they owed those who were not Christians and vice versa, but I think that lines up with Professor Hudson's thesis of forgiving barley debts, not silver debts. Personally, I don't know enough about St. Augustine to comment, but I do wish to learn more about his debate with Pelagius, as it does appear that is a common critique of Eastern Orthodox Christianity, that they are Semi-Pelagians.