Celebrated economist Michael Hudson thinks that the world of academic economics is both deceptive and essentially wrong in its formulations of the role of money and debt. Hudson says today’s oligarchic monetary systems invariably reinforce the flow of profits from labor to the top of the economic ladder.

The result is unsustainable debt, which he says is an historical pattern that goes back a couple thousand years. Something has to give.

Ellen and Michael spend the hour discussing what that might look like.

First aired on It’s Our Money With Ellen Brown.

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