The Unz Review - Mobile
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
Show by  
Email This Page to Someone

 Remember My Information



=>
Topics Filter?
2016 Election American Media Banking Industry Banking System Business Capitalism China Debt Dollar Donald Trump Economic Theory EU Euro Eurozone Federal Reserve Financial Bailout Financial Crisis Financial Sector Free Trade Global Warming Gold Greece Housing Iceland IMF Immigration Inequality Japan Latin America Latvia Minimum Wage Neoliberalism Oil Poverty Privatization Radio Interviews Reprint Russia The Insiders Economic Dictionary Trade TV Ukraine Unemployment Wall Street Washington Consensus 2004 Election 2008 Election 2010 Election 2012 Election 9/11 Academia Affirmative Action Afghanistan Africa Agriculture AIPAC Airports Al Jazeera Alan Greenspan Alan Nasser ALCA Alibaba Alzheimers Amazon.com American Debt American Default American Military American Pravda American Prisons Ancient Near East Animal Rights Anti-Semitism Antiracism Antitrust Appalachia Apple Argentina Argentina Default Article Artificial Intelligence Asian Financial Crisis Austerity Australia Auto Industry Auto Loans Automation Automobile Sales Baltimore Riots Banking Banks Barack Obama Bear Stearns Ben Bernanke Benjamin Netanyahu Bernie Sanders Bilingual Education Billionaires Bitcoin Bitcoins Black Crime Blacks Boeing Bolivia Books Brazil Brexit BRICs Brighton Britain Bubble & Beyond Bush Business School Canada Cancer Catholic Church Catholicism Cell Phones Censorship Charles Murray Charlie Hebdo Chicago School Chile China/America China Stock Market Meltdown Chinese Christine Lagarde CIA Cindy Sheehan Class Warfare Classical Economics Coal Cockburn Family Colonialism Conflict Of Interest Conservative Movement Consumer Debt Corruption Cost Accounting Counterpunch Cover Story Crime Cuba Currency Speculation Cyprus Dallas Shooting David Petraeus David Stockman Death Penalty Deep State Defense Budget Deficits Deflation Democracy Now! Democratic Party Deregulation Detroit Development Developmental Noise Dick Cheney Dictatorship Dominique Strauss-Kahn Donald Rumsfeld Drug Cartels Drugs Dubai Eastern Europe Ebola Economic History Economic Sanctions Economics Ed Miller Education Edward Snowden Edwin O. Reischauer Electric Cars Elon Musk Emigration Empire Employment Energy Environment Environmentalism Eurasia Europe European Union Event Ex-Im Bank Facebook Fake News Farming FAZ Finance Financial Bubbles Financial Debt Financial Times FIRE Flat Tax For Profit Schools Foreign Investment Fossil Fuels Fracking France Franz Boas Fukushima Gay Marriage Gender Gene-Culture Coevolution Geo-Politics George Soros Germany Glass-Steagall Globalism Globalization GMO Goldman Sachs Google Gordon Brown Government Debt Government Shutdown Government Spending Government Stimulus Government Surveillance Great Depression Great Recession Greg Cochran Gregory Clark H-1B H1-B Visas Hacking Haiti Harvard Health Henry George Henry Harpending Henry Paulson Hillary Clinton Hispanics HSBC Huey Long Hugo Chavez Hurricane Katrina Illegal Immigration Imperialism Income Tax India Inflation Infrastructure Interest Iran Iran Nuclear Agreement Iraq Ireland Israel Israel Lobby Italy Ivy League Jeff Sommers Jeremy Corbyn Jews John Brennan John Kerry Joseph Stiglitz Karl Rove Killing The Host Korea Kroger Co. Labor Labor Day Land Larry Summers Las Vegas Laurence Fink Lee Kuan Yew Lehman Brothers Liberalism Libertarianism Lindsey Graham Lombok Strait Low Wages Madoff Swindle Malacca Strait Manufacturing Margaret Thatcher Mark Carney Markets Marx Marxism Max Keiser Meat Medicine Meritocracy Merkel Mexico Michael Hudson Michigan Middle East Minorities MMT Modern Money Theory Mohammed Bin Salman Money Supply Monopoly Mortality National Debt Nationalism NATO Neocons Neoconservatives New Silk Road New York City New York Times Nicholas Wilson Nobel Prize North Korea Norway Nuclear Energy Nuclear Weapons Obama Obamacare Obscured American Occupy Wall Street Oil Industry Olympics One Percent Opioids Ottoman Empire Outsourcing Oxytocin Panama Papers Paul Krugman Paul Samuelson Peak Oil Penny Pentagon Phil Rushton Pinochet Plutocracy Poland Police State Political Correctness Pollution Ponzi Scheme Populism Post-Communism Postindustrialism Prescription Drugs Prizatization Productivity Propaganda Property Tax Prostitution Protectionism Prudential Insurance Psychology Public Enterprise Public Schools Publishing Race Radio Radio Interview Real Estate Refugee Crisis Renegade Economists Renewable Energy Rentier Republican Party Republicans Reuel Gerecht Review Robots Ron Paul Ron Unz Rupert Murdoch Samsung Saudi Arabia Scotland Scott Ritter Shanghai Cooperation Organisation Shanghai Stock Exchange Sheldon Adelson Silicon Valley Simon Patten Singapore Smoking Soccer Social Security Socialism Solar Energy Sony South China Sea Spain Stanford Steven Mnuchin Student Debt Student Loans Supply-Side Economics Sweden Switzerland Syria Syriza Tax Tax Cuts Tax Evasion Taxes Tea Party Technology Terrorism Tesla The Economist Third World Thorstein Veblen Timothy Geithner Tobin Tax Toshiba TPP Trade Surplus Trump TTIP Tuition UKIP Unions University Admissions USA Veblen Venezuela Vietnam Vioxx Vladimir Putin Vouchers Walmart Warren Buffet Welfare Welfare State White America White Americans White Death Workers Working Class World Cup World Restaurants World War II WTO YouTube
Nothing found
Authors Filter?
Sources Filter?
 Most RecentEconomics Archive
/
Economic Theory

Bookmark Toggle AllToCAdd to LibraryRemove from Library • BShow CommentNext New CommentNext New Reply
This panel explored causes of the Great Recession and the continuing economic sluggishness since the recession’s ended, as well as how the left can respond to this situation. In keeping with the conference theme, panelists addressed what different analyses and theories imply about the kind of socioeconomic change that is called for. Alan Freeman spoke... Read More
This is the first episode of our new “Alternative Voices” interview series, where we talk to people who give us a different perspective on all manner of topics. Our first guest is Professor Michael Hudson, a research professor of economics at the University of Missouri in Kansas City and the author of two books “The... Read More
NY University, PhD, 1968, Michael Hudson Peshine Smith (1814 – 82) was probably the most sophisticated of the pre-Civil War protectionists. What he attempted was no less a task than to transform protectionist economic thought from a body of disparate and often self-contradictory parts into an integrated doctrine of economic growth, and to develop political... Read More
Renegade Economists interview 05.09.2012 Interview with Professor Michael Hudson by Karl Fitzgerald Listen KF: We welcome to the show Professor Michael Hudson, Distinguished Research Professor at the University of Missouri-Kansas City, the leading Post-Keynesian university in America. It’s been fantastic to see, Michael, that the public profile of UMKC has really taken off with Randall... Read More
As published in the World Economic Association’s World Economic Review Vol #1. ABSTRACT Current macroeconomics ignores the roles that rent, debt and the financial sector play in shaping our economy. We discuss the Classical view on rents and policy responses to the rentier sector in the 19th century. The finance, insurance & real estate sector... Read More
Michael Hudson’s new book The Bubble and Beyond has just been released and can be purchased here. Speech given at the Veblen, Capitalism and Possibilities for a Rational Economic Order Conference, Istanbul, Turkey, June 6th, 2012 Simon Patten recalled in 1912 that his generation of American economists – most of whom studied in Germany in... Read More
This is a re-working of my second talk at the Rimini MMT conference, as heard on Guns and Butter. Suppose you were alive back in 1945 and were told about all the new technology that would be invented between then and now: the computers and internet, mobile phones and other consumer electronics, faster and cheaper... Read More
As published in American Journal of Economics and Sociology, Vol. 70, No. 4 (October, 2011). *The author acknowledges funding from Prosper Australia for this article. ABSTRACT. Reflecting the Progressive Era’s reform agenda Simon Patten (1852–1922) argued that freeing markets from one source of economic rent (by taxing land rent) would merely leave the surplus to... Read More
I have recently republished my lecture notes on the history of theories of Trade, Development and Foreign Debt [2]. In this book I provide the basis for refuting Samuelson’s factor-price equalization theorem, IMF-World Bank austerity programs, and the purchasing-parity theory of exchange rates. These ideas were lapses back from earlier analysis, whose pedigree I trace.... Read More
neweconomicperspectives There is a seeming riddle in the recent evolution of economic thought. It has become more otherworldly and abstract, more detached from the reality of how economies are running deeper into debt to a financial oligarchy. The global economy itself is polarizing between creditor and debtor nations, financial core and periphery (even as the... Read More
The Michael Hudson Series – Part 4 Economic Rent can be viewed here.
The Winter of Global Economic Discontent
The global economy is being sucked into a black hole and most Americans have no idea why. The whole problem can be narrowed down to two words; "structured finance". Structured finance is a term that designates a sector of finance where risk is transferred via complex legal and corporate entities. It's not as confusing as... Read More
An Interview With Robert Pollin
Robert Pollin is a Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts at Amherst. Among his recent books are Contours of Descent: U.S. Economic Fractures and the Landscape of the Global Austerity (Verso, 2003) and (with Stephanie Luce) The Living Wage: Building a Fair Economy... Read More
A Four-Thousand Year Overview Part I
“Whoever enters here must know mathematics.” That was the motto of Plato’s Academy. Emphasizing such abstract ratios as the Pythagorean proportions of musical temperament and the calendrical regularities of the sun, moon and planets, its philosophy used the mathematics of nature to reveal an underlying harmony and order in the universe and hence, in an... Read More
in FTD – Financial Times Deutschland (German edition of FT) Super Imperialism: The Origin and Fundamentals of US World Dominance Michael Hudson. Pluto Press 2003, 425 Seiten, 32 €, ISBN 074531989 Unser Dollar, euer Problem Wie ein Volkswirt die finanzielle Grundlage der amerikanischen Vorherrschaft erklärt Von Sebastian Dullien Wieder einmal starren Wirtschaftsprognostiker Gebannt auf den... Read More
Land-Residual or Building-Residual, and their Social Implications
NYU Real Estate Institute’s Round Table Discussion of Land- and Building-Price Indices A meeting was held at New York University’s Real Estate Institute on October 25 to discuss the virtues and pitfalls of constructing a land-price index to distinguish between land and building values. The Institute’s Associate Dean Ken Patton had invited Michael Hudson and... Read More
Methods of Real Estate Valuation
Some Prefatory Remarks to the N.Y.U. Real Estate Institute discussion, Oct. 25, 2001 Economic theory focuses on labor and capital, yet the largest category of tangible assets is not industrial plant and machinery earning profits, but real estate, and its primary objective is to make capital gains. Most new entries into the Forbes or Fortune... Read More
A Four-Thousand Year Overview Part II
2. Why Economies Develop Debt Crises: The Mathematics of Compound Interest The past century’s economic schoolbooks have described a universe running down from entropy. Production is assumed to be plagued by diminishing returns, so that each additional unit of input produces less and less output. Even if technology were recognized to raise the productivity of... Read More
The Illusion that Makes Land Values Look Negative – How Land-Value Gains are Mis-attributed to Capital
Dr Hudson is President of the Institute for the Study of Long-term Economic Trends, New York. He has specialised in national income accounting, the balance of payments and flow of funds analysis for leading Wall Street finance houses. A former economics professor at the New School’s Graduate Faculty, he is the author or editor of... Read More
The Economics of the Future Wagner’s Music of the Future – his “total art work” – sought to integrate music and drama (along with art, dance and poetry). In a similarly broad way, the economics of the future will integrate finance and production, thereby restoring the lost link (as drama had been lost to most... Read More
Contribution to The Other Canon Conference on Production Capitalism vs. Financial Capitalism Oslo, September 3-4, 1998. Our economy is evolving into something different from what most people imagine it to be. The emerging system bears little relation to what academic textbooks describe, to say nothing of what politicians are promising. Today’s problems also are different... Read More
This paper reviews some early technological theories of competitiveness and (what often is left out of account) the obverse side of the coin: economic obsolescence. The implications of technological change, industrial head starts and the causes of economic backwardness were analyzed above all by American economists in the mid-19th century who no longer are well... Read More
In Commonweal, Vol. 93 (Dec. 18, 1970) pp. 296-98 It is bad enough that the field of psychology has for so long been a non-social science, viewing the motive forces of personality as deriving from internal psychic experiences rather than from man’s interaction with his social setting. Similarly in the field of economics: since its... Read More
Category Classics
Which superpower is more threatened by its “extractive elites”?
The sources of America’s immigration problems—and a possible solution