Oligarchs Will Never Cancel Debts We Owe Them

from truth-out

Thursday, 05 December 2013 11:25By Michael Hudson, YouTube | Video

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Michael Hudson sent this short video which explains the history of debt jubilees and the role of private debt in the rise of oligarchies. This is a useful piece in and of itself and as a tool for persuading friends and colleagues who may be ambivalent about debt restructurings.

Watch the full documentary here.

This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.

MICHAEL HUDSON

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971).