I Meet the Leading Authority on the Babylonian and Near East Tradition of Debt Cancellation

By Permalink

Copy of a regular newsletter by Boudewijn Wegerif, Sweden WHAT MATTERS-77 Dear list members, Yesterday I was with an American economist who says of himself that he is a Marxist, whose godfather was Leon Trotsky, whose father was thrown in prison in the US in 1941 for advocating the overthrow of the government, who has worked for the Chase Manhattan Bank as their balance of payments expert, and who is now an authority on the Babylonian and Near East tradition of debt cancellation. I was with someone who in another guise, as musician, once auditioned to conduct the orchestra of the Stockholm Opera Company: - someone whom I had been told I would find extremely rude, with a verbal bite as sharp as ...

Books

By No tags Permalink

Economics J is For Junk Economics: A Guide to Reality in an Age of Deception, ISLET, 2017 Killing the Host- How Financial Parasites and Debt Destroy the Global Economy, ISLET, 2015 The Bubble and Beyond, ISLET, 2012 Finance Capitalism and its Discontents Trade, Development and Foreign Debt - A history of theories of polarisation and convergence in the international economy (1992), 2nd ed. ISLET Press, 2009, 422 pp. Amazon Global Fracture - The New International Economic Order (1977), 2nd ed. University of Michigan Press, 2005, 296 pp. Amazon Super Imperialism: The The Origin and Fundamentals of U.S. World Dominance, 2nd ed., London: Pluto Press, 2003, 425 pp. Amazon (translated into Japanese, 2002, Tokuma Shoten) Real Estate and the Capital Gains Debate (with Kris Feder), The Jerome Levy Economics ...

Bibliography

By No tags Permalink

Dr. Michael Hudson michael.hudson@earthlink.net Education Ph.D., New York University, 1968 (economics). Dissertation on American economic and technological thought in the nineteenth century. M.A., New York University, 1963 (economics). Thesis on the World Bank’s philosophy of development, with special reference to lending policies in the agricultural sector. B.A., University of Chicago, 1959 (philology, minor in history). High school and grade school completed at the University of Chicago’s Laboratory School. Present Academic Affiliation: Distinguished Research Professor of Economics, University of Missouri (Kansas City), and Honorary Professor of Economics, Huazhong University of Science and Technology (HUST), Wuhan, China. Work History Most of my professional life since 1962 has been spent in applying flow-of-funds and balance-of-payments ...

Wall Street First

By , Permalink

Trump is Obama’s Legacy. Will this Break up the Democratic Party? Nobody yet can tell whether Donald Trump is an agent of change with a specific policy in mind, or merely a catalyst heralding an as yet undetermined turning point. His first month in the White House saw him melting into the Republican mélange of corporate lobbyists. Having promised to create jobs, his “America First” policy looks more like “Wall Street First.” His cabinet of billionaires promoting corporate tax cuts, deregulation and dismantling Dodd-Frank bank reform repeats the Junk Economics promise that giving more tax breaks to the richest One Percent may lead them to use their windfall to invest in creating more jobs. What they usually do, of course, is ...

The Land Belongs to God

By , Permalink

Speech to the Union Theological Seminary, Columbia. The focus of my talk today will be Jesus' first sermon and the long background behind it that helps explain what he was talking about and what he sought to bring about. I've been associated with Harvard University's Peabody Museum for over thirty years in Babylonian economic archeology. And for more than twenty years I've headed a group out of Harvard, the International Scholars Conference on Ancient Near Eastern Economies (ISCANEE), writing a new economic history of the ancient Near East. The five colloquia volumes that we've published began in 1994. We decided we have to re-write the history to free it from the modern ideological preconceptions that have distorted much popular understanding. When I ...

Finance is Not the Economy

By Permalink

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 ...

The IMF Changes its Rules to Isolate China and Russia

Michael Hudson A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered financial and diplomatic control. China and Russia are investing in neighboring economies on terms that cement Eurasian integration on the basis of financing in their own currencies and favoring their own exports. They also have created the Shanghai Cooperation Organization (SCO) as an alternative military alliance to NATO. And the Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank tandem in which the United States holds unique veto power. More than just a disparity of voting rights in the IMF and World Bank is at stake. At issue is a philosophy of development. U.S. and other foreign investment in infrastructure (or buyouts ...

Rewriting Economic Thought

By Permalink

The following is a transcript of CounterPunch Radio – Episode 19 (originally aired September 21, 2015). Eric Draitser interviews Michael Hudson. Eric Draitser: Today I have the privilege of introducing Michael Hudson to the program. Doctor Hudson is the author of the new book Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy, available in print on Amazon and an e-version on CounterPunch. Michael Hudson, welcome to CounterPunch Radio. Michael Hudson: It’s good to be here. ED: Thanks so much for coming on. As I mentioned already, the title of your book – Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy – is an apt metaphor. So parasitic finance capital is really what you’re ...

Reuters’ Public Relations Missif

As published on Counterpunch: This autumn may see anti-austerity coalitions gain power in Portugal, Spain and Italy, while Marine le Pen’s National Front in France presses for outright withdrawal from the eurozone. These countries face a common problem: how to resist the economic devastation that the European Central Bank (ECB), European Council and IMF “troika” has inflicted on Greece and is now intending to do the same to southern Europe. To resist the depression and debt deflation that the troika seeks to deepen, one needs to bear in mind the dynamics that make the IMF un-reformable. Its destructive role in Greece provides an object lesson for how southern Europe must shun its horde of ideologues, as Third World countries learned to avoid ...