More at The Real News Edited transcript Michael Hudson: Obama’s “bargain” on social security reform will push more retirees into poverty in exchange for a minor increase in high end income tax – a class that receives most revenue from capital gain. Obama’s Social Security reform April 11, 2013. PAUL JAY, SENIOR EDITOR, TRNN:...
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Thatcher – ‘Sorry You’ve Lost Your Job’
More at The Real News Edited transcript PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay in Baltimore. Former prime minister Margaret Thatcher has passed away, and of course around the world people are debating her legacy. Henry Kissinger...
“Let us glory in our inequality.”
Failed Privatizations – the Thatcher Legacy By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “The Bubble and Beyond”. This is from my...
Mrs. Thatcher’s Mean Legacy
The Queen Mother of Global Austerity and Financialization Michael Hudson and Jeffrey Sommers We typically honor the convention to refrain from speaking ill of the recently departed. But Margaret Thatcher probably would not object to an epitaph focusing on how her political legacy was...
Too Big To Jail?
More at The Real News Too Big to Fail Public Banking Needed to Stop “Cannibalization” of the Economy, March 29, 2013. Michael Hudson: As long as finance is left in private hands, you’re going to have austerity and America ending up looking like Greece...
Wall St Burdens the Public Debt
More at The Real News PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay in Baltimore. As the effects of the sequester agreement ripple through the American economy–massive cuts, that is, to social programs, and the military to some...
Banking on Student Debt
More at The Real News Student debt is the new growth zone for banking revenues. With no student bankruptcy permitted, this is akin to a low risk revenue stream for the financial industry, now second in size to mortgage debt. Solution to Student Debt...
Government Debt and Deficits Are Not the Problem. Private Debt Is.
There are two quite different perspectives in the set of speeches at this conference. Many on our morning panels – Steve Keen, William Greider, and earlier Yves Smith and Robert Kuttner – have warned about the economy being strapped by debt. The debt we...
Economic Policy Deception
Another in the series of interviews on the Renegade Economists radio show (Australia), a wide ranging analysis of the advantages to wealth that money printing and poor tax policy produce. Topics include land and housing policy, German gold repatriation, Occupy, Bradley Manning, Iran, Obama...
The Delicious Irony of Morris Greenberg’s AIG Suit Against the US Treasury
When the financial bubble burst in September 2008, U.S. and European governments responded by shifting bank losses onto their own balance sheets. The pretense is that real growth cannot resume until the banks and speculators are “made whole.” To cover the cost of bailing...
2013 – the stage is set
Hudson on the Thom Hartmann Program.
Latvia’s Economic Disaster as a Neoliberal Success Story: A Model for Europe and the US?
by Jeffrey Sommers and Michael Hudson A generation ago the Chicago Boys and their financial supporters applauded General Pinochet’s anti-labor Chile as a success story, thanks mainly to its transformation of their Social Security into Employee Stock Ownership Plans (ESOPs) that almost universally were...
America’s Deceptive 2012 Fiscal Cliff
How today’s fiscal austerity is reminiscent of World War I’s economic misunderstandings When World War I broke out in August 1914, economists on both sides forecast that hostilities could not last more than about six months. Wars had grown so expensive that governments quickly...
Finance Capitalism and its Discontents
NEW BOOK: This collection contains the most important interviews and speeches that Professor Michael Hudson, Distinguished Professor of Economics at the University of Missouri (Kansas City), and president of the Institute for the Study of Long-term Economic Trends (ISLET) has given over the past...
Reality economics
A review of Norbert Häring and Niall Douglas, Economists and the Powerful (London: Anthem Press, 2012). “Whom the gods would destroy, they first make mad.” And if they would destroy economies, they first create a wealthy class on top, and let human nature do...
Austerity, Debt and Unelected Central Bankers
Loans you shouldn’t pay back, violent partners, and who triumphs when Germany Banks & Greece go toe to toe. Seek truth from facts with former Chase banker Prof. Michael Hudson, Stockholm Syndrome theorist Dr. Carlos Encinas, anti-EU party boss Peter Mach, Greek Correspondent Nicolas...
E Peshine Smith: A Study in Protectionist Growth Theory and American Sectionalism
NY University, PhD, 1968, Michael Hudson Peshine Smith (1814 – 82) was probably the most sophisticated of the pre-Civil War protectionists. What he attempted was no less a task than to transform protectionist economic thought from a body of disparate and often self-contradictory parts...
Fiscal Cliff Trojan
More at The Real News November 25, 2012 Fiscal Cliff An Artificial Crisis Michael Hudson: Fiscal cliff was manufactured to shift more of the burden of the crisis onto ordinary people. Transcript PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m...
How Neoliberal Tax and Financial Policy Impoverishes Russia – Needlessly
* A shorter version of this paper has been published in the Russian Academy of Sciences journal, Mir Peremen (The World of Transformations), 2012 (3):49-64 (in Russian). An earlier version was posted by the Global Policy Forum meeting in Yaroslavl, Russia, September 7-8, 2011,...
Obama Wins for whom?
As published in Counterpunch The Democrats could not have won so handily without the Citizens United ruling. That is what enabled the Koch Brothers to spend their billions to support right-wing candidates that barked and growled like sheep dogs to give voters little civilized...
Books by Michael Hudson
