Recent Posts by Michael

Inflation’s Drivers on The Geopolitical Hour

By No tags Permalink In this episode of Geopolitical Economy Hour, economists Radhika Desai and Michael Hudson discuss inflation: what it is, what causes it, and what are the problems in how the Federal Reserve and other central banks respond to it. Transcript RADHIKA DESAI: Hello, everyone. Welcome to the second Geopolitical Economy Hour. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: Thanks to all our viewers for making our inaugural show such a success. As many of you know, in this collaboration with Ben Norton’s Geopolitical Economy Report, Michael and I will present every two weeks a discussion of the major developments and trends that are so radically and rapidly reshaping the world order. Issues that involve not just politics and economics but, rather, as Michael and I like to put it, political economy, and, as my 2013 ...

Introducing the Geopolitical Economy Hour

By No tags Permalink Radhika: Hi everyone, and welcome to this Geopolitical Economy Hour. I'm Radhika Desai. Michael: And I'm Michael Hudson. Radhika: Every fortnight we are going to meet for an hour to discuss major development in the fast-changing geopolitical economy of our twenty-first-century world. We'll discuss international developments. We'll discuss their roots in individual countries and regions. We will try to uncover the reality beneath the usually distorting representation of these developments in the dominant Western media. We plan to discuss many subject — inflation, oil prices, de-dollarization, the outcome of the war over Ukraine which is going to determine so many things, the threats the U.S. is making against China about Taiwan, China's increasingly prominent role in the world, how China's Belt and Road Initiative is going to reshape it, how Western alliances ...

Systemic Sponsors of Self-Interest

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Q & A transcript from our 4th Patreon event.  Please join Michael's Patreon group as a Patreon Plus member, so that you too can join us and ask Michael any question at our next session in March. Karl Fitzgerald (KF): To start off with our typical end-of-year topic: How have you seen this year's economic trends play out? Has there been anything outstanding or worthy of note for you to bring to our attention? Michael Hudson (MH): Nothing's really changed from last time. There's more and more awareness that when the Federal Reserve raises interest rates (ostensibly to fight inflation) it isn't really to fight inflation at all. It's that they worry that with the prices going up, wages may go up, and they want to cut American wages by about 10% because ...

China the Change Agent – Patreon Q&A #3

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Each quarter, Patreon Plus supporters can ask Michael questions. Here is a transcript of the most recent one, just in time for our next Q&A this Thursday. Please support Michael's work via his Patreon page. Karl Fitzgerald: Alright, let’s get into it. We’ve got lots of good questions. Welcome, everyone. My name is Karl Fitzgerald. I’ve been Michael’s webmaster for over a decade now and yes, we’re so lucky to have Michael Hudson with us today. We’ve all read his books. We’ve all seen his whirlwind approach to unveiling the reality of economics so yes, Michael, great to have you here. I wanted to start off with just a nice easy one. I’m sure you could answer this in your sleep but for you, what are some of the guiding ...

Michael Hudson’s Patreon Q&A

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It's time for our quarterly Q&A with Michael! Please support Michael's important work via his Patreon page. Theme: NATO's provocative role in Eastern Europe. If you are a Patron Plus supporter on Patreon, you will be able to register. Anyone upgrading to Patron Plus at least 24 hours prior to the event is invited. **Register for the Q&A with the name and email on the Patreon account**

Oligopoly Unchecked

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Platypus interview on The Destiny of Civilization The destiny of civilization: An interview with Michael Hudson On July 15, 2022, Platypus Affiliated Society member D. L. Jacobs interviewed Michael Hudson to discuss his new book, The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism (2022). An edited transcript follows. D. L. Jacobs: Can tell us about your background regarding Marxism and how you came to political economy? Michael Hudson: Well, I grew up in a Marxist household. My father was a political prisoner, one of the Minneapolis 17. Carlos Hudson. See Michael Hudson, “Dad’s Many Proverbs” (June 17, 2017), available online at <>;. Minneapolis was the only city in the world that was a Trotskyist city, and my parents worked with Trotsky in Mexico. So, I grew up not having any intention of going into ...

EU Pressures – Al-akhbar Newspaper

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Questions from Al-akhbar Newspaper, Lebanon. Mohammad Itmaizeh 1 - In light of the conditions that Europe is experiencing, in terms of high energy prices and the repercussions on the industrial sector, like the closure of factories and the high cost of production. In your opinion do European countries have the capacity and resources to prevent industrial investments from "escaping"? Especially since the US plans in general to restore industry to its lands, thus, it may represent an opportunity to lure European industries to move to there and take advantage of cheap energy prices. This shift will have wide repercussions on Europe's productive capacities and competitiveness, as well as on its trade balance. So, what happens to the position of Europe in the global economic system? Will it remain part of the ...

War and Debt to Rule

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Cross posted from La Tribune Diplomatic International. French version Mohsen Abdelmoumen: Your analysis of Mesopotamian times and the wise rule of Emperors embodied by the practice of the Jubilee (compared to the predation of oligarchies) resonate with the Islamic economic theory which forbids riba (meaning usury) and imposes that banks and creditors share the risk of investment or debt. It also seems something deeply rooted in our Arabic and North African traditions of equality and justice where it is socially unacceptable to leave part of the community in dire poverty. As an anthropologist, have you related the success or failure of modern finance to anthropological factors like the structures of the rural families, theories developed by some like Emmanuel Todd? Michael Hudson: I have written a long article on Ibn Khaldun, ...

The Rentier Economy is a Free Lunch

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The Real Progressives Live with Michael Hudson on The Destiny of Civilization Luke Parcher: All right. For those who might not know me, I'm Luke Parcher, I'm a student and activist. I volunteer with Real Progressives. I'm on our leadership team and I also do a show on Sundays covering politics and current events, and I do some interviews throughout the week and things which you guys can find on Real Progress in Action. I want to quickly talk about Real Progressives. If you're interested in learning more about us, you can go to We have articles, content, podcasts, all sorts of things. And if you're interested in helping us out, we are a nonprofit. You can go to I also want to plug our founder and ...

Germany’s position in America’s New World Order

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Germany has become an economic satellite of America’s New Cold War with Russia, China and the rest of Eurasia. The article this talk was based on: Germany and other NATO countries have been told to impose trade and investment sanctions upon themselves that will outlast today’s proxy war in Ukraine. U.S. President Biden and his State Department spokesmen have explained that Ukraine is just the opening arena in a much broader dynamic that is splitting the world into two opposing sets of economic alliances. This global fracture promises to be a ten- or twenty-year struggle to determine whether the world economy will be a unipolar U.S.-centered dollarized economy, or a multipolar, multi-currency world centered on the Eurasian heartland with mixed public/private economies. President Biden has characterized this split as being between ...

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