Debt, Land and Money, From Polanyi to the New Economic Archaeology

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Inspiration for The Great Transformation in the postwar monetary breakdown Karl Polanyi’s formative years in the aftermath of World War I were a period of monetary turmoil. The United States became a creditor nation for the first time, and demanded payment of the war debts that Keynes warned were unpayable without wrecking Europe’s financial systems. (Hudson, Super Imperialism, 1972, summarizes this era.) France and Britain subjected Germany to unsustainably high reparations debts, while imposing austerity on their own economies by adhering to the gold standard. Jacques Rueff in France and Bertil Ohlin in the United States argued that Germany could pay any level of reparations in gold – and the Allies could pay their foreign-currency arms debts – by imposing unemployment high enough to make wages low enough to make its ...

Banking as a Public Utility – with Ellen Brown

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https://www.youtube.com/watch?v=SazlVfAu-DI&feature=youtu.be Killing the Host on 'It's Our Money', July 20, 2020. Ellen Brown: My guest today is Dr. Michael Hudson, who we're delighted to have on our Public Banking Institute Advisory Board, and who really should be advising the Federal Reserve and the Treasury, but BlackRock seems to have gotten the job. Paul Craig Roberts, who is former Assistant Treasury Secretary under Reagan, called Michael Hudson the greatest economist on the planet. He's a Wall Street financial analyst, Professor of Economics at the University of Missouri, Kansas City, and author of over two dozen books, including Killing the Host and one called … and Forgive Them Their Debts, which are both particularly relevant today. So it's great to be speaking with you, Michael. Michael Hudson: It's good to be back, Ellen. Ellen ...

Remarks from the Systematic Crises Triggered the Current Pandemic teleconference

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Remarks given at the 1st ASECU Teleconference ‘Systematic Crises Triggered the Current Pandemic & Progressive Way-Outs, May 8, 2020. Well, I think you’re quite right in organizing the conference to point out that today’s pandemic crisis hastens and intensifies the internal contradictions that have been building up. Many of these contradictions are going to be blamed simply on the virus. But there is an underlying problem that the virus is exposing and turning into a crisis. That underlying problem is the debts that have been building up for the last few decades. We are in a situation much like a war. There are winners and there are losers in a war. In this case the winner is the aggressor – the financial sector. Its demands for payment have set the ...

Definitions and Debate

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Welcome to the Knowledge Problem Podcast, the objective of this podcast is to engage policy professionals over thought provoking and sometimes sensitive topics. We aim to bring these professionals together in a way that does not feed the tribalistic narratives plaguing society today. It is my hope and the hope of all involved in this endeavor that by allowing these ideas to contend and challenge each other, with mutual respect, everyone who listens will learn something not previously considered. The opinions and views of all guests do not necessarily reflect the views of the Knowledge Problem or of anyone involved in this production. Regan: Hello everyone, thank you for tuning into this episode of the Knowledge Problem Podcast. I'm your host Regan Ferrell on today's episode we explore ...

Radical imagination and the intellectual edifice

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https://www.youtube.com/watch?v=dnHJBUczgE0 Radical Imagination | Imagining How the World of Finance Really Works Host Jim Vrettos interviews Professor Michael Hudson, Economist, Wall St. Analyst, Political Consultant, Commentator and Journalist; who offers his views in the way finance works and Welcome, welcome once again to the Radical imagination. I'm your host, Jim Vrettos. I'm a sociologist who's talked at John Jay College of Criminal justice and Yeshiva university here in New York. Our guest today, on the Radical Imagination, is one of only eight economists named by the financial times who foresaw the credit crisis and ensuing great recession erupting in 2008. It was conventional wisdom at the time to say that no one saw the gravity of the crisis coming, including almost every leading economist and financier in the world. In fact, many had ...

People’s Forum: Economic Lessons for 2020

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Economic Lessons for 2020: A Conversation with Dr. Michael Hudson Peoples Forum, December 12, 2019. https://youtu.be/nluLNA30e8k We are facing a crisis of poverty and economic precarity, where 140 million people are poor or low-income, the costs of living are going up and the chances of living are going down. What condition is our economy in today, more than ten years after the Great Recession of 2008, to withstand another economic downturn? What lessons have we learned – or failed to learn – over this past decade? What lessons can we draw from history to guide us in the months and years to come? On December 12, 2019, the Kairos Center hosted a talk at The People’s Forum in New York City with economist Dr. Michael Hudson on the 2008 economic crisis, what’s happened ...

Debt and Power

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https://www.youtube.com/watch?v=sJBi7sfTZuY&feature=youtu.be Transcript, recorded 20th Match 2020 Martin: Today Debt and Power. I’m Martin North from Digital Finance Analytics. Welcome to our latest post covering finance and property news with a distinctively Australian flavour. Today it is my pleasure to introduce Michael Hudson, American Economist, Professor of Economics and author of “Killing the Host” and “and Forgive Them Their Debts”. In the current environment I think those are great titles. Michael welcome. You have been following the economy and the question of debt for quite some time and I’d like to start the discussion with a simple question: How much debt is too much debt? Michael: Too much debt is when it's beyond the ability to be paid. At a certain point every debt grows beyond the ability to be paid because of the magic of ...

Equilibrium Theory and Near East Economics

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An interview with acTVism Munich. Johnson Wang   Michael Hudson on the History of Debt Cancellation, Austerity in Europe, January 2020 Rees Jeannotte Hello and welcome. I'm Rees Jeannotte, and you are watching Know Your Stuff. Joining me today is economist and anthropologist Michael Hudson. He is a professor of economics at the University of Missouri, Kansas City, and an author of many books, including Killing the Host, J for Junk Economics, and his most recent “...and forgive them their debts”. Today, we'll be talking with him about his latest book ...and forgive them their debts, the eurozone crisis and the problem of ever-increasing rental and home ownership costs around the world. Professor Michael Hudson, thank you for joining us. Michael Hudson It’s good to be here. Rees Jeannotte How did ...

Democratizing Money – a discussion

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IMMR CoffeeHouse Discussion Forum # 8 Full Transcript (EDITED VERSION) Thurs. Dec. 19, 2019 Michael Hudson on how debt money has pushed the US and European economies to their financial limit. Followed by an open discussion forum. About the speaker: Michael Hudson is an economist and economic historian with a PhD from New York University. Dr. Hudson teaches at the University of Missouri–Kansas City and is associated with the Levy Economics Institute at Bard College. Dr. Hudson's main research focus is on debt, in all its variations and throughout history going as far back as Bronze Age Mesopotamia. Leading questions are how debt comes into being, when and how it creates economic and societal problems, and what measures have been adopted, or can be adopted, in order to deal with ...