His biography contains elements
of an epic novel: growing up the son
of a jailed Trotskyist labor leader in whose Chicago home he met Rosa Luxembourg's and Karl Liebknecht's colleagues; serving as a young balance
of payments analyst for David Rockefeller whose Chase Manhattan Bank was calculating how much interest the bank could extract on loans to South American countries; touring America on Vatican - sponsored economics lectures; turning after a riot at a UN Third World
debt meeting in Mexico to the study
of ancient
debt cancellation practices through Harvard's Babylonian Archeology department; authoring many books about finance from Super Imperialism: The Economic
Strategy of American Empire [1972] to J is For Junk Economics: A Guide to Reality in an Age
of Deception [2017]; and lately, among many other ventures, commuting from his Queens home to lecture at Peking University in Beijing where he hopes to convince the Chinese to avoid the
debt - fuelled economic model off which Western big bankers feast and apply lessons he and his colleagues have learned about the
debt relief practices
of the ancient civilizations
of Mesopotamia.
There have been mixed reactions to the government's decision to opt for the HIPC initiative, which seeks to provide
debt relief to cash - strapped countries based on the implementation
of poverty alleviation
strategies prescribed by the IMF and the World Bank.
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