“This is the great social crisis of antiquity,” he continued. “If you go back to people like Aristotle, Hammurabi, Confucius—when they imagined the great social crisis, weaponized debt was what they had in mind. That this tiny percentage of the population would essentially enslave everybody else. They would start losing their flocks, their fields, eventually they would have to start selling members of their family or even themselves into slavery. And the way I always put it—if Aristotle were alive today, he would probably see the distinction between being so deeply in debt that you have to sell yourself to work for others and being so deeply in debt that you have to rent yourself to work for others as something of a legalistic distinction.”
Posted on: Fri, 31 May 2013 18:32:53 +0000
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