The Collapse of Antiquity -- Michael Hudson

<p><strong><em>The Collapse of Antiquity: Greece and Rome as Civilization's Oligarchic Turning Point </em></strong></p><p> </p><p><em>The Collapse of Antiquity</em>, the sequel to Michael's "<em>...and forgive them their debts, </em>" is the second and latest book in his trilogy on the history of debt. It describes how the dynamics of interest-bearing debt led to the rise of <em>rentier </em>oligarchies in classical Greece and Rome, causing economic polarization, widespread austerity, revolts, wars and ultimately the collapse of Rome into serfdom and feudalism. That collapse bequeathed to subsequent Western civilization a pro-creditor legal philosophy that has led to today's creditor oligarchies. </p><p> </p><p>In telling this story, <em>The Collapse of Antiquity</em> reveals the eerie parallels between the collapsing Roman world and today's debt-burdened Western economies. </p><p><strong>Endorsements </strong></p><p><em> </em></p><p><strong>Scope </strong></p><p><em>The Collapse of Antiquity</em> is vast in its sweep, covering: </p><ul><li>the transmission of interest-bearing debt from the Ancient Near East to the Mediterranean world, but without the "safety valve" of periodic royal Clean Slate debt cancellations to restore economic balance and prevent the emergence of creditor oligarchies; </li><li>the rise of creditor and landholding oligarchies in classical Greece and Rome; </li><li>classical antiquity's debt crises and revolts, and the suppression, assassination and ult