I dont understand your question very well. If you are refering to the historical basis of debt bondage the article suggests that it is.

I would search for the reasons that interest rates were created. Interest rates are like a kind of clothe. We have to understand that it is a clothe and not be misguided by the fashion of the era.

If we removed interest rates from the economy, would we have stopped the unending cicle? This is as important today as ever before.


2011/12/6 Michel Bauwens <michel@p2pfoundation.net>
<My only concern is that he might consider debt as only the obligation to return money with interest in the future in exchange for some product or service.>

that's the basis of debt peonage / bondage is it not?


On Tue, Dec 6, 2011 at 10:50 PM, Apostolis Xekoukoulotakis <xekoukou@gmail.com> wrote:
+1

''Debt has been the main dynamic driving these shifts – always with new twists and turns. It polarizes wealth to create a creditor class, whose oligarchic rule is ended as new leaders (“tyrants” to Aristotle) win popular support by cancelling the debts and redistributing property or taking its usufruct for the state.''

My only concern is that he might consider debt as only the obligation to return money with interest in the future in exchange for some product or service.



2011/12/5 Michel Bauwens <michel@p2pfoundation.net>
http://michael-hudson.com/2011/12/democracy-and-debt/

(i only disagree with his analysis of the feudal ages, serfs were NOT indebted, and it was not a continuation of the undefeated roman oligarchy)

Michel

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