Michael Hudson is an American economist, Professor of Economics at the University of Missouri–Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist. He is a contributor to The Hudson Report, a weekly economic and financial news podcast produced by Left Out.
This book consists of 12 chapters organized into 3 parts. Most of the chapters are rewritten forms of previous articles Hudson has published, edited for better flow between them and to eliminate overlap. There is still significant overlap between chapters that could’ve been eliminated with better editing. There is also significant overlap with many of Hudson’s other books.
The three parts: - Part 1 describes “the origins of money in fiscal arrangements innovated by Mesopotamian temples and palaces for paying fees, taxes and other debts” - Part 2 reviews “the evolution of land tenure and the increasing appropriation of land rents by creditors and conquerors” - Part 3 “describes the origins of urbanization in Mesopotamia and how ritual centers developed as gathering places or trading venues before cities emerged in the modern sense of the term”
Parts 1 & 2 contain much of the same content as his two book, “…and forgive them their debts…” and “Collapse of Antiquity.” Part 3 contains the most “new” material (still stuff he has published, just not in his most famous anthropological economics books), but still contains significant overlap.
As always, Hudson does incredible work and makes important arguments. But, as all his books do, this book suffers from the lack of a competent editor.
HIGHLY RECOMMEND this book, and HIGHLY RECOMMEND Mr Hudson to get a new editor.
Now that I've finished this I've finally completed Hudson's trilogy on the Bronze Age origins of our current economic chaos. My favorite essay from this book was when he explained the origins of today's off shore tax havens, tracing the practice back to ancient pre-Roman merchants seeking out islands unregulated by a sovereign. Read this series and you'll never think about our modern economy the same way again.
This book is an edited collection of interviews about ancient economics. It is fascinating. It dives into the structural arrangements of ancient economies, as opposed to his other book on the ancient Near East, '...and forgive them their debts', which was much more historical in terms of narrative (and also focused substantially more on the Bible's messages on debt).
Hudson is brilliant, and reading his books will fundamentally change how you view history. I would recommend, though, starting with his other book (mentioned above) about this, because shifting your view on the Bible will definitely mark a shift in your understanding. Hudson offers a compelling account of political manipulation both in Old and New Testament times. His work, while occasionally a bit dry, is incredible and enlightening. One of my favorite writers.
Temples of Enterprise is a collection of 12 essays exploring how major economic institutions—like money, debt, markets, and land—originated in the temples and palaces of the Bronze Age Near East. These institutions weren't just religious centers but acted as powerful economic actors.
The book challenges traditional views of money’s origins, arguing it emerged not from barter but as a tool for managing debt, often tied to state and religious authorities. It also covers topics like debt cancellation (jubilees), inequality, and land concentration, showing how these shaped ancient stability and collapse.
Though not a linear narrative and dense for readers unfamiliar with ancient economies, the book offers new insights and invites reflection to modern issues—especially around debt, economic justice, and elite power—making it relevant well beyond ancient history.