How Taxes Were Shifted Off Real Estate

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Nov 21 2016 How Taxes Were Shifted off the Donald Trumps of the World and onto Homeowners, The Real News Network, November 21, 2016. https://www.youtube.com/watch?v=8rhBdWojLe0 SHARMINI PERIES, TRNN: It’s the Real News Network. I’m Sharmini Peries coming to you from Baltimore. And we’re unpacking some economic mythologies here with Michael Hudson who joins us in our Baltimore studio. Thank you so much for joining us Michael. MICHAEL HUDSON: Good to be here. PERIES: Michael has a new book out, J Is for Junk Economics: A Survivor’s Guide to Economic Vocabulary in an Age of Deception. Michael, so let’s continue our discussion about the various myths that are out there that we need to be aware of in order to understand the economy. Part of the ...

Break Up the Democratic Party

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It’s Time for the Clintons, Rubin to Go – and Soros too. In the week leading up to last Tuesday’s election the press was busy writing obituaries for the Republican Party. This continued even after Donald Trump’s “surprising” victory – which, like the 2008 bank-fraud crash, “nobody could have expected.” The pretense is that Trump saw what no other politician saw: that the economy has not recovered since 2008. Democrats still seem amazed that voters are more concerned about economic conditions and resentment against Wall Street (no bankers jailed, few junk mortgages written down). It is a sign of their wrong path that party strategists are holding onto the same identity politics they have used since the 1960s to divide Americans ...

Bill for Change

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Rentier Capitalism – Veblen in the 21st century

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In 2012 a conference was held on Thorstein Veblen in Istanbul. It was sponsored by a socialist labor union, the Chamber of Electrical Engineers. We were asked why not focus on Marx. My answer was that Marx had died a generation earlier, and the major critique of finance capitalism had passed to Veblen. This book (from which my following remarks are excerpted) is a series of essays, including by myself and another NC friend, Michael Perelman. The Return of the Repressed Critique of Rentiers: Veblen in the 21st century Rentier Capitalism Michael Hudson Edited excerpt from Michael Hudson and Ahmet Oncu, eds., Absentee Ownership and its Discontents: Critical Essays on the legacy of Thorstein Veblen (ISLET 2016, $35). Simon Patten recalled in 1912 that ...