The Collapse of Antiquity: Greece and Rome as Civilization''s Oligarchic Turning Point
The Collapse of Antiquity, the sequel to Michael''s "...and forgive them their debts," 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 rentier 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.
In telling this story, The Collapse of Antiquity reveals the eerie parallels between the collapsing Roman world and today''s debt-burdened Western economies.
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