Origins of debt: Michael Hudson reveals how financial oligarchies in Greece & Rome shaped our world
Economist Michael Hudson discusses his book "The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point", and how this history from 2000 years ago is still so relevant to understand our debt-based societies today.
You can find links to all of Michael's books at his website Michael-Hudson.com
You can support Michael on Patreon at Patreon.com/MichaelHudson
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If I had found Prof Hudson’s works earlier in my student years, perhaps I would have avoided the error of a meaningless banking career, and applied my energies earlier to something more constructive. However, it’s never too late to learn and apply. Thank you Ben for bringing the good Professor’s works to us.
@satori-in-life
Жыл бұрын
Meaningless bank career? I'm sure you made a lot of money more than most ever will.
@ovidiudraghici9941
Жыл бұрын
@@satori-in-life That was the point of the statement, money don't matter that much. Seems like you've been brainwashed by the oligarchy the prof has been talking about.
@urrywest
10 ай бұрын
@@ovidiudraghici9941 If money dosn't matter that much, try living without it.
@urrywest
10 ай бұрын
@@ovidiudraghici9941 I embarked on an engineering career. I probably would have been just as happy or more making bombs as making electical transormers. Swards resemble plowsheers...
@steviewonder417
9 ай бұрын
The vanguard will have bankers in it, soldiers and busy body bureaucrats as well.
Every day we get to hear Michael Hudson explain how the world really works is a true blessing and a necessary enlightenment.
@volafsdottir216
Жыл бұрын
Hudson is enlightened isn't he
@colec1033
4 ай бұрын
there is no one even close to being on his level he is without doubt the greatest economist/historian of the late 20th/early 21st entry. And he's got a young padawan in Ben Norton
@counterflow5719
3 ай бұрын
Why do we have a communication system that unimaginable in historic terms, that refuses to broadcast to the world truths and ideas that must be heard. CNN is lost and searching for relevance yet they refuse to broadcast these truths and ideas that must be heard. If they want to dominate the communications media market then they should broadcast those truths ideas that people are hungry for.
@karate4348
21 күн бұрын
Indeed
@counterflow5719
21 күн бұрын
@elonmusksellssnakeoil1744 CNN trying to figure out how to build a viewership. How about putting brilliant thinkers with brilliant ideas out there for people to learn and understand and build a strong civilization that will last eons.
Even after 1,500 years, we really haven't progressed far from the oligarchic caste system of Ancient Greece and Rome. The oligarchy still rules over us today.
@Rawdiswar
Жыл бұрын
Same game, better wifi
@adamiskandar5107
Жыл бұрын
We must identify the tools they used against us and fight against it with all our might. One I can think of is their propaganda machine.
@yellowsheeps
Жыл бұрын
Because the oligarch's "brainwash" (education/media) people into supporting their own enslavement. Think of ALL the propaganda surrounding Communism (Socialism) and Western "free market" Capitalism. People just repeat misinformation as if it is truth. The reality is the oligarch's have "progressed" while regular humans have "regressed".
@gordonsek
Жыл бұрын
@@Rawdiswar 😂
@AK-ru9rs
Жыл бұрын
This is a good example of the cyclical or spiralling nature of history.
Hudson is like opening a window, after a heavy sleep, letting sunshine and air in. Incredible lecture again! Thank you Ben Norton and everybody involved!
@bluemarlin9110
7 ай бұрын
Somehow you make it sound like sleep is no good. :)
Fascinating, since I left my country of birth over 40 years ago. I have learnt to question inherited values and norms of my origins. Michael Hudson takes my limited 70 years of inquisitiveness to a whole new level . Five millennium of history , thank you for these insights.
Fascinating! I wrote my master’s thesis on the deliberate misinterpretation of the Bible and this is the first I’m learning of the economic elements. Thank you very much, Professor Hudson and Ben!
@jason8434
Жыл бұрын
Ivan Illich wrote about similar themes. His focus was more on the New Testament era and the Middle Ages when early Christianity became institutionalized and sin was criminalized, which evolved into modern institutions like hospitals and schools and law. Illich saw modernity as the corruption of Christianity, he was a priest but he was suspended for his criticism of the church. Hudson may have known him, he operated in the liberation theology context of the 50s and 60s in Latin America. "Rivers North of the Future" is a good summary of Illich's ideas.
@hansfrankfurter2903
Жыл бұрын
Echos of Kautsky are reverberating
@steviewonder417
9 ай бұрын
William freaking Blake duh
@steviewonder417
9 ай бұрын
Pelagius too
@acgrizzle7530
5 ай бұрын
This is mind-blowing
Thank you for this. My first two degrees were in Classics, and I always found a huge discrepancy between the Augustine of the Confessions (my first meeting with him) and that of the City of God or other writings. Even the Augustine of the de libero arbitrio seems at odds with the City of God - but as I have gone on from my university days, and faculty days, especially with the help of voices like Dr Hudson's, it has become clear to me that what links the two is in fact that sense of concupiscence in Augustine which almost always means libido. In particular a wealthy Roman citizen's libido, the notion of freedom which Hudson describes here attendant. Ultimately, what I realise is that the education I received was principally aimed at telling the story of antiquity in such a way that it served to support the axioms of a) Empire, b) capitalist production and c) the abnegation of the working class as "the masses", the "mob" - it was not aimed at a real understanding of either the Classics or the present.
@charleshinton8565
20 күн бұрын
Rotfl Do you think libidos of a Roman is different from that of a New Yorker? Human nature is all inclusive of humanity, not just the odd empire.
An excellent outline of the history behind the purposeful development of the U.S. Debtfrastructure system by successive Congressional Acts (a wholly owned subsidiary of the Bankster Class).
@Hamza-qs7ez
Жыл бұрын
Gangster dono
Thank you for allowing the genius of prof Hudson a platform. He is a marvel
@mackone8035
Жыл бұрын
AppleScab You care to elaborate on your chickenshit comments?
@markmahan38
Жыл бұрын
Not a genius. If you listened carefully. Michael Hudson says over and over how he has to invest time to learn, what you called genius. Anyone who invests time to learn. Can come to the same wisdom, you referred to as genius.
@hhheee3939
Жыл бұрын
@@markmahan38 his genius lies in how he takes a subject matter that he understands so thoroughly that he never needs to resort to b.s jargon or overcomplicated terminology to explain and educate others. I have read and listened to my fair share of economists but prof. Hudson has been the only one who actually knows and doesnt parrot.
@urrywest
Жыл бұрын
@@markmahan38 It seems challenging to me but I did master much of popular mathematics.....
@urrywest
Жыл бұрын
@@hhheee3939 Hudson could describe capitalism as the things you need to do to make capital.....
The dose of daily Hudson makes this channel the truth!
Absolutely fantastic history. Really turns the conventional history upside down. Always wondered why there was never economic history pre 17th century.
@qjtvaddict
Жыл бұрын
Cause it would lead to revolution or the collapse of the 2 party system
History of Roman vs Eastern orthodoxy and usury is fascinating. Thanks for the interview
"Geopolitical Economy" is becoming a reference to everyone concearned with what is really going on in the World.
This man is a legend! A real global treasure!
I've just learnt more on this video than I have in 60 years. And everything makes so much sense now . Wow thankyou so . 👍 ♥
Without exaggeration one of the most important books ever written. Bravo.
What a brilliant exposition of the economic history of our world Michael Hudson gives us here. Also in clear, precise and simple plain language!
@ethicalhackerwhitehat
Жыл бұрын
I was enlightened and learned so much here
Both of you are terrific! Thank you for your contributions to public education.
Thank you very much. This is a great service to humanity. I like how Professor Michael Hudson pointed out that how we currently understand oligarchies, autocracies, kings and tyrants is an example of how control of language can be used to affect our perceived reality and therefore control us. We really are in the matrix. Matrix Exodus, when?
@JS-ih7lu
Жыл бұрын
When you get on a plane to China 😂
@DorksterJr
Жыл бұрын
@@JS-ih7lu How do you know China is not an expansion of the matrix? And what makes you think the Exodus will be a movement in space?
@JS-ih7lu
Жыл бұрын
@@DorksterJr How do you know it isn’t? 😂 I can only say try it and find out for yourself.
@guilmarperez4674
Жыл бұрын
@@JS-ih7lu why China? Have you been there?
@JS-ih7lu
Жыл бұрын
@@guilmarperez4674 Yes I have. I’ve lived there long enough to see that the Chinese government is focused on improving the lives of its people. It has a completely different political and economic model to the west, and it is wildly successful. There’s a reason it has the highest approval rating of any govt in the world. Most importantly, its political system does not rely on propaganda to survive, its survival relies on continuously achieving set goals. It’s not perfect but there’s definitely less bs than the west. Jerry’s Take on China does a good job of debunking western myths about China if anyone’s interested.
thanks ben for bringing michael around. i got a clear image of the stranglehold of debt.
Thank you very much Ben for having this project with Professor Michael Hudson! It's always very enlightening!
WOW!!! This is the best masterclass I’ve ever attended (virtually or present) in my life.
This was an excellent program. Thank you Ben and professor Hudson for educating the masses 👍💕
It's always a treat to hear the insights of Professor Micheal Hudson. Many thanks to both of you!
Actually sends shivers up my spine on learning how everything is controlled and by who. It's been a long time of wars and all to own everything
what a marvel this man is
Excelente, toda una cátedra con el gran Michael Hudson. Gracias B Norton.
@jensmayer8372
Жыл бұрын
😊In 😊😊😊😊gibt 😊😊
@urrywest
Жыл бұрын
@@bohemianharvest As far as I know there is only an english version.
My GOODNESS ... Hudson should have his own school of Economics and History. This man's omniscience and philanthropic sensibilities are priceless. X
During my undergrad years, I came to know about M. Hudson's work because of the interviews he gave on now-gone RT America. I was so impressed by his description of Mesopotamian economic practices that I filled purchase requests at the university library for all the volumes on the collection. To this day, I keep those photocopies. Fortunately, his work, reuniting some of the top scholars on the Ancient Near East, has had some impact on public opinion, for example, with the publication of David Graber's book on debt, which relied on the scholarship presented on the 3rd volume of said collection. Unfortunately, this work hasn't yet had meaningful change in economics or business curriculum, as economic history or the history of economic institutions are rarely required courses and sometimes aren't even offered. May prof. Hudson enjoy good health so that he can finish his long-awaited trilogy.
If only prof michael hudson was as popular as elon musk and had people quoting and hanging on his every word instead. What a dream
@ipeteagles
Жыл бұрын
musk is paid opposition
@aliciaczechowski3281
Жыл бұрын
The world would have a hope of survival if that were the case
Wow. If only I'd had Prof. Hudson instead of high school. Huge exciting history lessons beautifully told! Buy these books!
Thank you Ben for your interview with the Godfather of holistic thinking.
Professor Hudson is the fog rolling off the hills revealing the true state of things
@karate4348
21 күн бұрын
He's blowing the fog away with fresh air of truth..
I absolutely cherish Michael Hudson. I can listen to him endlessly. His findings make this world make absolute sense. Thank you.
Mr. Hudson is, hands down, the greatest Political Economist of our age.
Thank you both for illustrating the value of studying Ourstory .
Fascinating and massively enlightening. Dashing apart thousands of years of hagiography essentially. Ty
Fantastic interview and discussion. Much appreciation to Prof. Hudson for his work into the origins of accepted orthodoxies today that are used consistently to condition our minds into tortuous serfdom. Thanks also to GE and Mr. Norton for your work broadcasting and sharing such important history. 👏✊❤🙏
I really appreciate Professor Hudson. I learned so much from his lectures. Thanks professor Hudson.
Thank you for more Prof Hudson!
@volafsdottir216
Жыл бұрын
you need to reply Kamilla as a moderator
Thank you so much, Professor Hudson, for this fabulous lesson in (real) history! I was already aware that most (nearly all?) of our recent history was Revisionist propaganda. But I had always believed that at least the FOUNDATION of "Western civilization" was (somehow) noble and enlightened. This interview was a revelation for me.
Whenever a society is overrun by the debt bookkeepers it is no longer a society at all but instead becomes a system of masters and slaves. The U.S. and indeed many countries in the world are experiencing that. The making of masters is always painful and unfair. It is however driven by the narcissism of the accruers and holders of the debt. Privatization of public property and institutions is simply the way societies dissolve into chaos.
An absolutely fascinating & enlightening discussion. If only I had had Michael Hudson as a professor in my university days. I hope his books will reach many thousands of contemporary students. Thank you for the best online geopolitical and historical class I have ever attended.
@margaretgoodheart4167
Жыл бұрын
Each time I listen to Professor Hudson I think the same thing: this is the best class ever.
Greece and Rome actually being the endpoint of civilization is so fvcking poetic it hurts
@kateoneal4215
Жыл бұрын
Only Western civilization.
@Nick-zb4yg
Жыл бұрын
It's a good thing it simply isn't true.
This was absolutely fascinating. I could listen to Professor Hudson for hours on end. Thank you so much to both Professor Hudson and Ben.
That's why we like Magna Carte so much here in the UK and there's a real interest now in learning about common law and how it's the people who hold sovereignty, not parliament, and we wish to re-establish our proper way of living not the criminal order that has been put in it's place now.
I've never learned this much in an hour and a half before. Thanks so much.
egad Ben, Hudson has reached a new plateau of brilliance here.
This is interesting to look at this from the point of view of Chinese history. Chinese empire trend to have a growth and decline cycle that is link to the ability for the central government to re-distribute wealth. Empire generally collapse when it can no longer raise tax from rich merchants in the wealthy areas. (Similar to what Professor Hudson describe when the legal system of the Roman empire become protective of the rich debtors)
Once again I just have to applaud you Ben for improving again on your channel and highlighting the economics behind the geopolitical situations. This information is not only invaluable to understanding all conflicts but context that is left out of so many discussions as economics seems so daunting as a subject. The reality is there has been so much left out or manipulated in the story of economics. Yet it’s understanding this real history highlighted by yourself and your guests that helps us all understand the multipolar world better. Thanks again for creating this space for these important conversations 🙏
Such important and useful information! Thanks Ben and Michael. This understanding of what is meant by "democracy" really helps.
Brilliant work from professor Hudson and you Ben for keeping up. Now I know why Marx liked Martin Luther, but realising that money/corruption would defeat him. I wish I had this book when I was majoring in Philosophy and government. Perhaps I may add that Syria and Iran have large Jewish, Christian and Muslim populations living together in peace. Boy, the west just cannot stand this!
Michael Hudson is fascinating, as always, he makes economics interesting by presenting it in a narrative way.
hudson and norton. great!
Great show. Thanks Ben and Michael for your hard work.
I think we all need to bring back the ancient practice of Secessio plebis
@teslastellar
Жыл бұрын
Agree 👍
Interesting how it was the near east and east that came up with debt forgiveness. And how it is once again the east who are doing debt forgiveness. Such as China within the BRI, loans.
@margaretgoodheart4167
Жыл бұрын
How interesting that you connected past to current policies of debt forgiveness. TY
Thanks for this discussion, I have ordered both 'The Collapse of Antiquity' and '...and forgive them their debts'.
Thanks Ben and Michael I have learned so much from you gentlemen My thinking has changed so much through discovering you
Wow, what a great discussion 👏🏼
Thank you for this. I hope many people will watch this because debt is at the core of all that's going on.
@margaretgoodheart4167
Жыл бұрын
Absolutely
Saved. Must watch. This framing is never given but it's like capital T truth. Thanks for this video!
41:19 The same things British did in India the Zamindar system where farmers were tenants on their land.
Thankyou Ben . Michael Hudson, what you say is so so full and illuminating. Thank-you. As a therapist with focus on trauma at conception, in utero, at birth and until little humans begin to 'think' and speak...looking at how 'in debted' , insecure and dependent humans remain underneath as a result... I find this utterly telling. Women are by no means perfect in all of this, nor forceful matriachy (which preceded patriachy as I understand 'his'tory) necessarily kinder than patriachy... but that the wives of the Roman emperors wanted to retain the release of debt was perhaps a sign that as mothers, they retained sense of the fundamental needs of humans for security, relative to infancy and childhood and the context of security of populations which had hope and some semblance if it where debts were released. Profit always equals loss. The consequences of pain of humanity, cruelty and denial of this and that of other animals and destruction of nature...whole ecosystems are consequences of this also. The twisting and manipulations of powerful humans who are insecure at their ancestral and personal roots...see no peace or joy in simple security of simple life...are tragically mmolesting and monetising even the air we breathe. Your study Michael is so so important. Thanks again.
Always so excited to see him on! Need to rewatch and take notes! Thank you, Ben! ♥️
I'm not particularly religious (maybe not at all) and I avoid mentioning of God, but i will make exception here: God bless prof Michael Hudson for enlightening everyone who listens to him and reads his books and is in a search for knowledge and understanding of our human society and forces behind it. I wish him many more decades of fruitful life. I hope he will get one day far in the future a place in a history that he deserves.
A compelling argument for Monarchy and against usury - very based, Dr. Hudson!
Beautiful, learned, amazing presentatiom from Prof. Hudson. So cool.
Thank you for having Professor Hudson. I always enjoy his insights and scholarship. I highly recommend an another book by the journalist and historian Michael Hoffman "Usury And Christiandom The Sin That Was And Is No More." Another book to consider is R.H. Tawney "Religion and the Rise of Capitalism." Happy reading!
The man is a genius no doubt about it,I have his book…and forgive them their debts,and I have just ordered this book and look forward to furthering my education of the past that always affects the never ending now
Probably one of the most importantly needed books to end these cycles of trauma spanning millennia to present day.
Love your work. Thank you Ben and Prof. Hudson.
Comment for the algorithm. Love the work, Ben, et al ❤
This interview was fantastic!!! Thank you both for this!!! And this reminded me a lot of David Graeber and his book Debt: the first 5,000 years. 👍
Wow ! Who thought to look at Roman History that way? That’s really enlightening! Thanks a million.
Thank you for this fantastic program.🙏🙏
Wow, just eye-opening - thank you, Ben & Michael!
Enjoyed this interview a lot, thank you.
In the US property rights supercede human rights.
Thank you. ✌ Debt = bet, hence why lenders are very similar to compulsive gamblers.
@aliciaczechowski3281
Жыл бұрын
..in a game where they play with loaded dice.
That was one of the most interesting interview I’ve heard in a while.
P S the last part concerning Socratis is devastating! I've got to re read the Republic by Plato again.
This lecture soooo explains the animosity of the west to Russia with its centuries-long tradition of owing land communally, not individually!
Michael Hudson and Richard Wolff are the best
The man is a genius,no doubt about that,I have his book…and forgive them their debts, and I have just ordered this one and look forward to increasing my education of the past,which always affects the never ending now
A wonderful presenation. Great work both.👏👏🥇🥇🖐️
Thank you so much gentlemen.
This conversation was a revelation for me. Thank you both. I shared it with my social group.
This is amazing! I need to grab the books and read more about it.
It's crazy how smart MH is on the history. Very rare.
This is so great I come back to re watch from time to time
I've listened to this video, a few times now.
Excellent interview, I learned so much.
Brilliant as always. Hudson shows us here (among other things) how, in the history of the west our Stockholm syndrome-like love affair with oligarchy has made us fear reformers and misunderstand the difference between hereditary monarchy and kingship, as well as accept sanitized “spiritual” and “cultural” reformers presented to us by the oligarchy with all the truly important powerful redistributive economic reforms removed entirely from the debate before we even get to consider them. An example of this he mentions is Jesus. Hudson proposes Jesus made radical wealth and debt reform part of his mission and he threatened the local tribute paying orthodox Pharisee oligarchy. Hudson proposes that THIS disruption of economic oligarchy was the reason the Pharisees wanted him gone, far more than any spiritual unorthodoxy he might have represented which after all wasnt that uncommon. The charge of “King” resonated with all Roman society, for the wealthy Roman oligarchy had been brandishing that charge as a political weapon against anyone who dared propose any form of broad economic reform that threatened the oligarchic senate. Hudson proposes that there is evidence for his interpretation and elaborates on it. But just reading the Bible only the much tamer non-political “spiritual” (in todays terms the “culture war”) charges are give. Great weight and that’s ALL the overwhelming majority of Christians think Jesus’ mission was, and that he didn’t care at all about solving the enforced poverty of his followers and subjugation to a generational oligarchy. Today we might consider the two US political parties behavior over the last 30 years. Where once they both had significant specific economic policies and avowed clear and different economic class interests with attendant but somewhat less important cultural and social justice issues, now, since the time Bill Clinton proposed the “third way” in the 1990s and closed the book on the Democrats’ genuine interest in the working class and union and labor movements. Now neither Party wants openly to identify with wealth or the ruling class yet they are both owned by neoliberal capitalist donor class. They both play dress up and pretend to be either middle class or working class (almost none of them are … almost all are members of the top 2% or 3%) and their partisan discourse is almost entirely consumed with culture war and social justice issues. Even the Democrats are frightened of their own socialists and would rather spend Democratic Party money to promote an extreme Republican than a socialist Democratic candidate. I argue Hudson makes great points. Historically the west “massages” from our historical and present day accounts almost all mention of radical economic purposes behind many of our radical reformers due to our pathological identification with our ruling oligarchies, even when supporting them has long since ceased to serve any purpose; or we accept “cultural” or “social” reform as sufficiently ameliorative when far broader economic class debt and wealth reform of the oligarchy is what is really needed, not just limp reforms to “culture”. Watch this video people! Excellent
@patriceesela5000
Жыл бұрын
Excellent analysis, thanks for sharing
@JAI_8
Жыл бұрын
@@patriceesela5000 My pleasure. Thanks so much for taking a moment to acknowledge it! All analysis guaranteed to be all-human, 100% ChatGPT and AI free! My mind needs the exercise for coming showdown with Skynet! 😀
This was so fascinating. Thanks for all this
Fantastic work! Eye opening.. thank you so much!
thank you so much for all the work you do!
Super conversation! Hope the new book receives the reader Reception it deserves. Tnx to both of you!
Absolutely excellent.
This is very true thank you so much