2017 compared to 1917
Socialism flowered in the 19th century as a program to reform capitalism by raising labor’s status an
The Eurozone today is going into the same deflationary situation that the U.S. did under Jackson’s destruction of the Second Bank, and the post-Civil War budget surpluses that deflated the economy. But whereas the Fed’s creation was designed to inflate the U.S. economy, Europe’s European Central Bank is designed to deflate it — in the... Read More
I was interviewed on Ellen Brown’s radio show “It’s Our Money”, where she writes:
Please click on the following link to hear my latest radio interview. Partial Transcript Justin Ritchie: “There’s a lot of people on the left and the right who are becoming increasingly critical of Quantitative Easing and the question we have is how does it work? What does it mean that the US Federal Reserve is... Read More
Failed Privatizations – the Thatcher Legacy
By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is
A Model for Europe and the US?
A generation ago the Chicago Boys and their financial supporters applauded General Pinochet’s anti-labor Chile as a success story, thanks mainly to its transformation of their Social Security into Employee Stock Ownership Plans (ESOPs) that almost universally were looted by the employer grupos by the end of the 1970s. In the last decade, the Bush... Read More
This interview with Profs. Hudson, Bill Black and Randy Wray at UMKC describes how the U.S. Financial sector has become criminalized, and describes how the economy will continue to shrink sharply after the November presidential election.
Below are the transcripts from the film
Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system
Brussels Talk, Madariaga College,
This is a re-working of my second talk at the Rimini MMT conference, as
Hudson on the plan for the 1% to monopolise Main Street through concentration of ownership AKA asset grabs. 73,000 views in 2 days.
Hudson giving an overview of current affairs with a fired up Lauren Lyster fresh back from Davos.
As first published in Frankfurter Allgemeine Zeitung The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve in a democratic referendum. Bank strategists learned not to risk submitting... Read More
Has the Link been Broken?
*This article appeared in the Frankfurter Algemeine Zeitung on December 5, 2011. Book V of Aristotle’s Politics describes the eternal transition of oligarchies making themselves into hereditary aristocracies – which end up being overthrown by tyrants or develop internal rivalries as some families decide to “take the multitude into their camp” and usher in democracy,... Read More
The New Bank Disaster Olafur Arnarson, Michael Hudson and Gunnar Tomasson* The problem of bank loans gone bad, especially those with government-guarantees such as U.S. student loans and Fannie Mae mortgages, has thrown into question just what should be a “fair value” for these debt obligations. Should “fair value” reflect what debtors can pay –... Read More
NY Times, August 11, 2011
Michael on the Download the Hudson only portion of the interview