+1<div><br></div><div>&#39;&#39;<span class="Apple-style-span" style="color: rgb(17, 17, 17); font-family: &#39;Times New Roman&#39;; font-size: 14px; line-height: 18px; background-color: rgb(255, 255, 255); ">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.&#39;&#39;</span></div>
<div><font class="Apple-style-span" color="#111111" face="&#39;Times New Roman&#39;"><span class="Apple-style-span" style="font-size: 14px; line-height: 18px;"><br></span></font></div><div><font class="Apple-style-span" color="#111111" face="&#39;Times New Roman&#39;"><span class="Apple-style-span" style="font-size: 14px; line-height: 18px;">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.</span></font></div>
<div><font class="Apple-style-span" color="#111111" face="&#39;Times New Roman&#39;"><span class="Apple-style-span" style="font-size: 14px; line-height: 18px;"><br></span></font></div><div><font class="Apple-style-span" color="#111111" face="&#39;Times New Roman&#39;"><span class="Apple-style-span" style="font-size: 14px; line-height: 18px;"><br>
</span></font></div><div><br><div class="gmail_quote">2011/12/5 Michel Bauwens <span dir="ltr">&lt;<a href="mailto:michel@p2pfoundation.net">michel@p2pfoundation.net</a>&gt;</span><br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;">
<a href="http://michael-hudson.com/2011/12/democracy-and-debt/" target="_blank">http://michael-hudson.com/2011/12/democracy-and-debt/</a><br><br>(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)<span class="HOEnZb"><font color="#888888"><br>

<br>Michel<br clear="all"><br>-- <br>P2P Foundation: <a href="http://p2pfoundation.net" target="_blank">http://p2pfoundation.net</a>  - <a href="http://blog.p2pfoundation.net" target="_blank">http://blog.p2pfoundation.net</a> <br>

<br>Connect: <a href="http://p2pfoundation.ning.com" target="_blank">http://p2pfoundation.ning.com</a>; Discuss: <a href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation" target="_blank">http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation</a><div>

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<br></blockquote></div><br><br clear="all"><div><br></div>-- <br><span style="font-family:arial, sans-serif;font-size:13px;border-collapse:collapse"><pre style="white-space:pre-wrap"><br></pre><pre style="white-space:pre-wrap">
Sincerely yours, </pre><pre style="white-space:pre-wrap">     Apostolis Xekoukoulotakis</pre></span><br>
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