International Economy Diversification of central bank reserves into larger holdings of euros is much in the news these days. Quite apart from the widening U.S. trade and payments deficit, the Iraq war has created a backlash that has led some Arab and Islamic politicians to urge OPEC countries to price and sell their oil in... Read More
An Interview with Economist Michael Hudson for Counterpunch By STANDARD SCHAEFER The war in Iraq is allegedly over, interest rates are going lower and there are rumors of recovery although the economy is still in the doldrums. A Bush is president, but an election is around the corner. It sounds a bit like the recession... Read More
In the 1991 Gulf War, America got its allies to bear most of the costs voluntarily. After all, U.S. diplomats asked, wasn’t the war fought to protect Kuwait and the next petro-domino, Saudi Arabia, from Iraqi attack – and in the process to protect Europe’s oil and gas supplies from an aggressive grabber? Wasn’t 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.