Michael Hudson - From Babylon to Wall Street: The Timeless Struggle Against Debt
Description
In this episode of the Shepheard-Walwyn podcast, host Jonathan Brown introduces Shepheard-Walwyn's audience to Michael Hudson, a renowned but often underrepresented economist, known for his extensive work in economic history and his influential book, 'Super Imperialism.'
Hudson's career trajectory begins with his early efforts to highlight the significance of debt in modern economies and continues with his research into ancient economic systems and their relevance to contemporary issues. Hudson's investigations into ancient societies, such as Babylonia, reveal how those civilisations managed debt and economic balance, offering a stark contrast to modern-day economic practices, particularly in the roles of debt and rentier classes in fostering economic disparity and stagnation.
His findings underscore the importance of debt cancellation and the redistribution of resources to avoid economic polarisation and social upheaval, lessons modern economies could learn from to prevent future crises. Hudson's insights, grounded in both historical analysis and modern economic critique, offer a roadmap for addressing the systemic issues at the heart of today's economic instability.
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