Bankruptcy protects fake people, brutalizes real ones

Debts that can’t be paid, won’t be paid.

Victor Bezrukov, CC BY 2.0 (modified) and Vitalik Radko/Deposit Photos, free license (modified)

“Debts that can’t be paid, won’t be paid.” There, in eight simple words, we have Michael Hudson’s key insight into the role debt and debt cancellation plays in the rise and fall of human civilizations.

Debts are inescapable.