for the last 4000 years has found that debt grows more rapidly than people can pay.
The problem is that a small oligarchy, about 10% of the population, to whom all of the debts are owed to do not want them to be annulled.
That’s the one thing they will never do.
They would rather annul the bottom 90%’s right to live than to annul the money that’s due to them. They would rather strip the planet and shrink the population and be paid than give up their claims. But giving up their claims is exactly what needs to happen. That’s the political fight of the 21st century.
– Michael Hudson, Adbusters #136