Economist Michael Hudson argues that the real economic crisis is not government debt but private debt — and that money has always been, and should remain, a public utility. Drawing on ancient Mesopotamia, Japan's lost decade, China's state-led model and Britain's financialised economy, Hudson explains how the privatisation of banking and credit has transferred power from governments to creditor classes — with devastating consequences for housing, wages, living standards and democracy.

Michael Hudson is an economist and author of Forgive Them Their Debts and The Destiny of Civilization.

🔗 David Graeber Institute: https://davidgraeber.org/

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