A lecture for Kadir Has University, Department of Economics, Istanbul. https://www.youtube.com/watch?v=aqBqh1vwkqQ&embeds_euri=https%3A%2F%2Fwww.patreon.com%2F&source_ve_path=MzY4NDI&feature=emb_logo Image by Lynn Greyling from Pixabay
Palatial Credit: Origins of Money and Interest
Origins of Money and Interest: Palatial Credit, not Barter Neolithic and Bronze Age economies operated mainly on credit. Because of the time gap between planting and harvesting, few payments were made at the time of purchase. When Babylonians went to the local alehouse, they did not pay by carrying grain around in their pockets. They ran up a tab to be settled at harvest time on the threshing floor. The ale women who ran these “pubs” would then pay most of this grain to the palace for consignments advanced to them during the crop year. These payments were financial in character, not on-the-spot barter-type exchange. As a means of payment, the early use of monetized grain and silver was mainly to settle such debts. This monetization was not physical; it was administrative ...
The Public Interest & its Planned Obsolescence
Another in the series of interviews on the Renegade Economists radio show, with Tune Nielsen (Positive Money Denmark, Gode Penge ) and host Karl Fitzgerald. QE for the People by Renegade Economists on Mixcloud Part 2 to the Forest Park interview with Prof Michael Hudson and Tune Nielsen on the state of economic reform. This week we delve deeper into the Greek capitulation to the Troika, how to get free of the euro, the state of US democracy and other aspects to economic warfare. The underlying theme of course is how the planned obsolescence of the public interest is orchestrated. Planned Obsolescence of the Public Interest by Renegade Economists on Mixcloud
Economic Policy Deception
Another in the series of interviews on the Renegade Economists radio show (Australia), a wide ranging analysis of the advantages to wealth that money printing and poor tax policy produce. Topics include land and housing policy, German gold repatriation, Occupy, Bradley Manning, Iran, Obama and Kruegar. Listen here Subscribe to the show (itunes) Transcription 06.03.2013: Karl Fitzgerald (KF): It’s seems that the most exciting things happening around the planet are not happening in a democracy, they’re happening in China. The new Premier there Xi Jinping has a real reformist agenda. Michael Hudson (MH): I think there’s a whole new generation coming in. I think they do things collectively in China, and then I was there a few years ago I was really happy to see how there’s a feeling of, uh, there are people ...
Now We're Talking
Hudson is in form on KPFK today with Alan Minsky.
17 minutes – worth doing the dishes to.
Australia’s Needless Foreign Borrowing
Michael Hudson and Shann Turnbull* (First published via Prosper Australia, written during Michael's recent Oz tour.) Confronted by the global financial crisis that is burying foreign economies deeper in debt deflation each month, Australia needs to protect itself – indeed, to liberate itself from as many costs and risks as it can. Fortunately, many of its costs and risks are unnecessary, merely a result of the inertia of old ways of thinking. Australia has the means to protect its growth and to keep more of its income at home. But if it is to remain immune to the GFC meltdown, it must escape from the risky environment of foreign financial dependency. This requires new arrangements to take account of the rapidly changing character of credit. Foreign credit is the most obvious yet also most ...