[lbo-talk] the Grundrisse and credit

[Carrol Cox]

Michael Pollak wrote: "The part of this that is really true is that in
ancient times, debts had nothing to do with intermediation.  They were owed
directly by the workers to the aristocrats or the state.  So when debts were
forgiven, the aristocrats took a hit, but the effect on the real economy was
all good, and immediate.  It was literally a no-brainer.  All you needed was
power."

I'm not sure of your time reference, but if I followed this, you are quite
wrong. The debtors were almost ALWAYS Aristocrats. That's why Plato thought
the state ought not to enforce debt collection: he favored aristocrats over
money-lenders.

Carrol