Articles

Wall St Burdens the Public Debt

March 25, 2013
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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 extent–one thing is clear: both sides–President Obama and the leadership...

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The Delicious Irony of Morris Greenberg’s AIG Suit Against the US Treasury

January 12, 2013
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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 out the banks, governments now are trying to run budget...

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Latvia’s Economic Disaster as a Neoliberal Success Story: A Model for Europe and the US?

January 3, 2013
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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 looted by the employer grupos by the end of the...

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America’s Deceptive 2012 Fiscal Cliff

December 28, 2012
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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 would run out of money. It seemed that if Germany...

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Finance Capitalism and its Discontents

December 22, 2012
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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 decade (2003-2012). They span the political spectrum from COUNTERPUNCH.COM and...

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Obama Wins for whom?

November 9, 2012
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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 option but to vote for “the lesser evil.” This will...

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MH in the Classroom

November 5, 2012
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Michael Hudson’s talk at the joint seminar on “Modern Monetary Theory” and “Monetary Circuit Theory” held at the Fields Institute on Tuesday July 3rd. Outlining his model at Canada’s Fields Institute, the world’s leading mathematical institute. At the meeting with Steve Keen, Stephanie Kelton,Nathan Tankus et al.

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Financial Conquest or Clean State?

September 26, 2012
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This is an edited and expanded transcript from a live phone interview by Dimitris Yannopoulos for Athens News, September 2012. Dimitris Yannopoulos: As an academic with a strong grounding in economic history as well as banking and a Clean Slate, professor Michael Hudson has built his own school of thought – distanced from both...

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Set Up To Fail

September 17, 2012
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Renegade Economists interview 05.09.2012 Interview with Professor Michael Hudson by Karl Fitzgerald Listen KF: We welcome to the show Professor Michael Hudson, Distinguished Research Professor at the University of Missouri-Kansas City, the leading Post-Keynesian university in America. It’s been fantastic to see, Michael, that the public profile of UMKC has really taken off with...

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Incorporating the Rentier Sectors into a Financial Model

September 12, 2012
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Incorporating the Rentier Sectors into a Financial Model

by Dirk Bezemer and Michael Hudson As published in the World Economic Association’s World Economic Review Vol #1. ABSTRACT Current macroeconomics ignores the roles that rent, debt and the financial sector play in shaping our economy. We discuss the Classical view on rents and policy responses to the rentier sector in the 19th century....

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