The “Latvian option” is the buzzword of the moment among European bankers and financial journalists. In October, the Latvian people voted in a coalition headed by the incumbent prime minister Valdis Dombrovskis, whose government had savaged social benefits, cut pay and inflated unemployment in 2009. Was this proof that austerity measures could not only...
Monthly Archives: December 2010
Financial Interests Dictate Sovereign Policy
Interview with Michael Hudson, Eleftherotypia, Sunday December 12, 2010. 1. A recent article of yours, “Schemes of the Rich and Greedy,” cites the bailouts in Europe among such schemes. What are the main faults with bailouts, and for whom are they designed? The financial sector is trying to get politicians to siphon off money...
Deficit Hawks One Two Punch
More at The Real News December 16, 2010 Why Government is More Afraid of Debt than Depression Michael Hudson: Deficit Hawks Want a One Two Punch Against the Economy Transcript PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay, coming to you today from New York City. Now joining...
From WikiLeaks to 21st Century Potato Famines
Professor Hudson appeared on the Renegade Economists radio show in Melbourne, Australia last Wednesday. Listen
Obama's Bushism
I almost feel naïve for being so angry at President Obama’s betrayal of his campaign promises regarding taxes. I had never harbored much hope that he actually intended to enact the reforms that his supporters expected – not after he appointed the most right-wing of the Clintonomics gang, Larry Summers, then Tim Geithner, Ben...
Adam Smith critiques the Deficit Reduction Commission
What would Adam Smith have said about the Bowles-Simpson economic report last week? What a pity the great free marketer was not around to serve on the Deficit Reduction Commission. He not only would have rolled over in his grave, he would have risen up wielding an ax to the fiscal proposals that are...
Books by Michael Hudson
