[P2P-F] crucial text on democracy and debt by Michael Hudson (everyone should read this)

[Michel Bauwens]

<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 at 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 at 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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>
>
> --
>
>
> Sincerely yours,
>
>      Apostolis Xekoukoulotakis
>
>
>
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