May 5-6, 2018 Lecture Second World Marxism Conference Peking University, School of Marxist Studies Volumes II and III of Marx’s Capital describe how debt grows exponentially, burdening the economy with carrying charges. This overhead is subjecting today’s Western finance-capitalist economies to austerity, shrinking living standards and capital investment while increasing their cost of living and... Read More
As published in Harper’s Magazine. Let’s start with your 2006 Harper’s article. What did you see happening at that point? It was very clear that more and more of everybody’s income had to go to buying a
SHARMINI PERIES: Just prior to the economic collapse of 2007-2008 there were several economic indicators which could have given us a clue of the impending disaster. If we look at the economic situation today in the US, we find many of these very same indicators. Housing prices are getting very high. Credit card debt has... Read More
The Age HIGHER land and house prices typically lead to an increased supply of housing. Yet at the peak of Australia’s perennial housing affordability crisis, the Housing Industry Association declared that there would be a 13 per cent fall in housing starts this calendar year, compounding last year’s 18 per cent fall. In light of... Read More
A Counterpunch Special Report I am writing this article about Fannie Mae and Freddie Mac while sitting in the Queens Botanical Garden. This was not my plan today. The central air conditioning in my apartment broke down six weeks ago and still has not been fixed. (It’s a nice condominium building, but accidents happen.) It... Read More
Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971).
ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East.
Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law.