Category Archives: Moral hazard

Michael Hudson: “Moral Hazard” vs Mutual Aid – How the Bronze Age Saved Itself from Debt Serfdom

Bronze Age societies forgave agricultural debt to keep cultivators working on their land, able to pay taxes and work in the military and on public projects. Lenders were seen as greedy and exploitative.

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Double Whammy: Implicit Subsidies and the Great Financial Crisis

Follow the subsidies, and you will understand why we had the crisis and why not enough has been done to prevent a recurrence.

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Jim Chanos on Fraud: “Cryptocurrency Is a Security Speculation Game Masquerading as a Technological Breakthrough”

The legendary short seller Jim Chanos in a wide-ranging discussion of financial frauds, starting with cryptocurrencies: Bitcoin is the last thing he’d want to own in the event of a catastrophe.

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