Finance is Not the Economy

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JOURNAL OF ECONOMIC ISSUES Vol. L No. 3 September 2016 DOI 10.1080/00213624.2016.1210384 Dirk Bezemer and Michael Hudson Dirk Bezemer is a professor of economics at the University of Groningen, the Netherlands. Michael Hudson is a distinguished research professor of economics at the University of Missouri, Kansas City, and a professor at Peking University. The authors thank the editor and two anonymous referees for helpful suggestions that greatly improved this article. Bezemer wishes to thank the Equilibrio Foundation and the Institute for New Economic Thinking for financial support. Any remaining errors are the authors’ own. Abstract: Conflation of real capital with finance capital is at the heart of current misunderstandings of economic crisis and recession. We ground this distinction in the classical analysis of rent ...

Post-Convention Candidates

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August 4 SHARMINI PERIES: It’s the Real News Network. I’m Sharmini Peries coming to you from Baltimore. Now that the Democratic and the Republican Party conventions are over, the U.S. presidential campaign is entering its last phase before the actual vote in November. Normally this should the point at which each party is very internally united and focusing on presenting its own program and attacking the opponent. However this time around, it seems each party continues to be more divided than ever. More and more Republicans are defecting from Donald Trump. And on the Democratic side, the debate is still raging about who supporters of Bernie Sanders should vote for in November. With us to present his analysis of the post-conventions and ...

Presidential Wanna Bees

An interview on Max Keiser and Stacy Herbert's new podcast Double Down. Of the citizens of the declining Roman empire, it was said: “Give them bread and circuses and they will never revolt.” So true is this of all such citizens of declining empire that every four years American presidential wannabes even promise revolution but know that the voter will ask only for more bread, circuses and… taco bowls. Dr. Michael Hudson joins Double Down to talk about the economic reality behind the Trump voter and about whether or not, as it is claimed, Hillary Clinton is the ‘most progressive’ candidate in Democratic history. Listen here