More at The Real News Edited transcript Michael Hudson: Obama’s “bargain” on social security reform will push more retirees into poverty in exchange for a minor increase in high end income tax – a class that receives most revenue from capital gain.
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
Contents Introduction Why it was regressive to fund Social Security as an autonomous system Financial engineering vs. industrial profits and employment Social Security, forced saving and Labor Capitalism What if the stock market does boom? Will that save Social Security? Introduction This would not seem to be an auspicious time to mount a campaign to... 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.