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Neoliberalism

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In the mid-1980s, Soviet officials saw a need to open up their economy in hope of achieving Western-style innovation and productivity. That was the decade in which Margaret Thatcher and Ronald Reagan were sponsoring the neoliberal pro-financial policies that have polarised the U.S., British and other economies and loaded them down with rentier overhead. The... Read More
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Ross Welcome to Renegade Inc. With China's increasing wealth, Western investors want some of the action. One of those investors is a bullish gentleman called George Soros. However, the Chinese are acutely aware that with Western investment comes inequality. So as Beijing begins to rethink how to do proper economic growth, we ask, will China... Read More
Mr. Soros has thrown a public sissy fit over the fact that he can’t make the kind of easy money off China that he was able to make when the Soviet Union was carved up and privatized. On September 7, 2021, in his second mainstream editorial in a week, George Soros expressed his horror at... Read More
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In a Financial Times op-ed, “Investors in Xi’s China face a rude awakening” (August 30, 2021), George Soros writes that Xi’s “crackdown on private enterprise shows he does not understand the market economy. … Xi Jinping, China’s leader, has collided with economic reality. His crackdown on private enterprise has been a significant drag on the... Read More
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Nearly half a millennium ago Niccolo Machiavelli’s The Prince described three options for how a conquering power might treat states that it defeated in war but that “have been accustomed to live under their own laws and in freedom: … the first is to ruin them, the next is to reside there in person, the... Read More
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Presentation at the Oxford Economics Society
Oscar Brisset: Welcome to the first event of the Oxford Economics Society for this academic year. I’m Oscar, the Co-President of our society, and I’m glad to welcome you back for another term of exciting discussions. Although we were hoping last term to be back in-person by January, due to the worsening Covid-19 situation in... Read More
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Public Banking Institute Podcast Michael Hudson: [00:00:00] There's recognition that commercial banking has become dysfunctional and that most loans by commercial banks are either against assets – in which case the lending inflates the prices of real estate, stocks and bonds – or for corporate takeover loans. The economy’s low-income brackets have not been helped... Read More
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The Saker: Trump has been accused of not thinking forward, of not having a long-term strategy regarding the consequences of assassinating General Soleimani. Does the United States in fact have a strategy in the Near East, or is it only ad hoc? Michael Hudson: Of course American strategists will deny that the recent actions do... Read More
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The mainstream media are carefully sidestepping the method behind America’s seeming madness in assassinating Islamic Revolutionary Guard general Qassim Suleimani to start the New Year. The logic behind the assassination this was a long-standing application of U.S. global policy, not just a personality quirk of Donald Trump’s impulsive action. His assassination of Iranian military leader... Read More
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Introduction: I recently spoke to a relative of mine who, due to her constant and voluntary exposure to the legacy AngloZionist media, sincerely believed that the three Baltic states and Poland had undergone some kind of wonderful and quasi-miraculous economic and cultural renaissance thanks to their resolute break with the putatively horrible Soviet past and... Read More
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Thursday’s debate on Walt Disney’s ABC channel is shaping up as yet another shameless charade. The pretense is that we are to select who the Democratic presidential candidate will be. But most Americans, as the Irish say, vote with their backsides, belonging to the informal but dominant party of non-voters who choose not to be... Read More
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Today’s world is at war on many fronts. The rules of international law and order put in place toward the end of World War II are being broken by U.S. foreign policy escalating its confrontation with countries that refrain from giving its companies control of their economic surpluses. Countries that do not give the United... Read More
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I’m Bonnie Faulkner. Today on Guns and Butter, Dr. Michael Hudson. Today’s show: De-Dollarizing the American Financial Empire. Dr. Hudson is a financial economist and historian. He is President of the Institute for the Study of Long-Term Economic Trend, a Wall Street Financial Analyst and Distinguished Research Professor of Economics at the University of Missouri,... Read More
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The G20 Meeting in Japan
President Trump has threatened China’s President Xi that if they don’t meet and talk at the upcoming G20 meetings in Japan, June 29-30, the United States will not soften its tariff war and economic sanctions against Chinese exports and technology. Some meeting between Chinese and U.S. leaders will indeed take place, but it cannot be... Read More
Putin’s approval rating is high, but it has declined over the past year. The decline is mainly related to domestic policy. Apparently, the public perceives recent Kremlin economic policy as a continuation of the disastrous policies that Washington imposed on Russia in the 1990s when Russia was loaded up with foreign debt while state assets... Read More
The Saker: Could you summarize the state of Venezuela’s economy when Chavez came to power? Michael Hudson: Venezuela was an oil monoculture. Its export revenue was spent largely on importing food and other necessities that it could have produced at home. Its trade was largely with the United States. So despite its oil wealth, it... Read More
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I’m Bonnie Faulkner. Today on Guns and Butter, Dr. Michael Hudson. Today’s show: The Vocabulary of Economic Deception. Dr. Hudson is a financial economist and historian. He is President of the Institute for the Study of Long-Term Economic Trends, a Wall Street financial analyst and distinguished Research Professor of Economics at the University of Missouri,... Read More
The recently elected neoliberal government of Mauricio Macri has decided to seek a $50 billion IMF credit line, which will only enable more capital flight for the upper class and greater unpayable debt for the rest of the population, says the economist Michael Hudson. SHARMINI PERIES: It’s The Real News Network. I’m Sharmini Peries, coming... Read More
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The West’s Finance-Capitalist Road
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
Outlook for the 1% (and the Democratic Party split), 2018
Low interest rates, "quantitative easing," and the mitigation of antitrust laws led to more mergers and acquisitions in 2017, but that's only going to fuel greater wealth inequality and tighten the corporate grip on the political system, explains economist Michael Hudson. GREGORY WILPERT: Welcome to The Real News Network. I'm Gregory Wilpert coming to you... Read More
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Introduction to the German Edition
In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity. The reality since World War I is that the United States has... Read More
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2017 compared to 1917
Socialism flowered in the 19th century as a program to reform capitalism by raising labor’s status an
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It should be called the Leona Helmsley tax plan, only the little people will pay taxes
S. Peries: It's the Real News Network. I'm Sharmini Peries coming to you from Baltimore. A general consensus is emerging that Trump's tax plan, which he presented last Wednesday will benefit mostly the country's upper classes and corporations. In fact the only people that got a tax increase are the poorest taxpayers. A quick scan... Read More
Photo by Charleston’s TheDigitel | CC BY 2.0
Interview with Vlado Plaga in the German magazine FAIRCONOMY, September 2017. Originally, you didn’t want to become an economist. How did it come that you changed your plans and digged so deep into economics? I found economics aesthetic, as beautiful as astronomy. I came to New York expecting to become an orchestra conductor, but I... Read More
KIM BROWN: Welcome to The Real News Network in Baltimore. I'm Kim Brown. Donald Trump promised repeatedly to, "Drain the swamp," during his presidential campaign, his vow to end the cycle of corruption within the Federal government. All while touting his own experience as a businessman, as reason enough for him to be Commander-in-Chief. Yet,... Read More
Photo by Sarah Marshall | CC BY 2.0
I just had a disastrous and embarrassing interaction with Bloomberg, and feel that I was ambushed and sandbagged by having my comments taken out of context in a hit piece Bloomberg’s journalists wrote on Venezuela – evidently trying to distort my own views in a two-for-one job. On Monday, March 27, I received a message... Read More
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An article by Robert Berke in oilprice.com, which describes itself as “The No. 1 Source for Oil & Energy News,” illustrates how interest groups control outcomes by how they shape policy choices. Berke’s article reveals how the US intends to maintain and extend its hegemony by breaking up the alliance between Russia, Iran, and China,... Read More
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It’s Time for the Clintons, Rubin to Go – and Soros too
In the week leading up to last Tuesday’s election the press was busy writing obituaries for the Republican Party. This continued even after Donald Trump’s “surprising” victory – which, like the 2008 bank-fraud crash, “nobody could have expected.” The pretense is that Trump saw what no other politician saw: that the economy has not recovered... Read More
William Engdahl recently explained how Washington used the corrupt Brazilian elite, which answers to Washington, to remove the duly elected President of Brazil, Dilma Rousseff, for representing the Brazilian people rather than the interests of Washington. Unable to see through the propaganda of unproven charges, Brazilians acquiesced in the removal of their protector, thereby providing... Read More
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According to various reports, the Russian government is reconsidering the neoliberal policy that has served Russia so badly since the collapse of the Soviet Union. If Russia had adopted an intelligent economic policy, its economy would be far ahead of where it stands today. It would have avoided most of the capital flight to the... Read More
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GREGORY WILPERT, TRNN: Welcome to the Real News Network. I'’m Gregory Wilpert, coming to you from Quito, Ecuador. Britain'’s referendum in favor of leaving, or exiting, the European Union, the Brexit referendum, as the results are known, won with 52 percent of the vote on Thursday, June 23, stunning Europe’s political establishment. One of the... Read More
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Neoliberal policy will pressure U.S. citizens to emigrate, just as it caused millions to leave Russia, the Baltic...
A research team from Columbia University’s Mailman School of Public Health in New York estimates 875,000 deaths in the United States in year 2000 could be attributed to social factors related to poverty and income inequality. According to U.S. government statistics, 2.45 million Americans died in the same year. When compared to the Columbia research... Read More
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NOTE: Readers are asking to know who, in addition to the Western-financed NGOs, are the Fifth Columnists inside Russia. Michael Hudson and I left the description general as Atlanticist Integrationists and neoliberal economists. The Saker provides some specific names. Among the Fifth Columnists are the Russian Prime Minister, head of the Central Bank, and the... Read More
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As Russia and Asia move to circumvent the stranglehold of an aging, U.S. dominated international financial and legal system with its promise of endless austerity and privatization by foreign investors, the IMF and World Bank double-down by making it more difficult for them to transact business and administer credit. A nightmare scenario of U.S. geopolitical... Read More
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The Disasters of Neoliberalism
The following is a transcript of CounterPunch Radio – Episode 19(originally aired September 21, 2015). Eric Draitser interviews Michael Hudson. Eric Draitser: Today I have the privilege of introducing Michael Hudson to the program. Doctor Hudson is the author of the new bookKilling the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy,... Read More
Interview on the Real News. Visit their page to watch it. Sharing disabled. The Hudson Report: Europe’s effort to join the US in isolating Russia has backfired, it makes no sense to build an oil and gas pipeline for Russian exports that would be owned and leased to them by the US and Europe. SHARMINI... Read More
U.S. New Cold War policy has backfired – and created its worst nightmare 1. The world’s geopolitics, major trade patterns and military alliances have changed radically in the past month. Russia has re-oriented its gas and oil trade, and also its trade in military technology, away from Europe toward Eurasia. The result is the opposite... Read More
Butlers Selling the Public’s Silver….A Dress Rehearsal for Hillary?
The Koch Brothers are the closest thing the United States has to Russia’s oligarchs. They fuse ownership of the economy and state, using the latter to enrich themselves while making private gains through the public’s losses. Their idea of a “market economy” is to buy government officials and the assets they privatize at giveaway prices.... Read More
The latest instalment of the Hudson-Keiser interview series, this time on Russian sanctions and the affect on the US dollar subsidy. How many times can America hurt it’s economic prospects? Read my book the Super Imperialism to understand how the 1972 trends play out.
The Ukraine sovereignty issue discussed in light of pro-Russian politics vs austerity comforts.
Latvia’s Neoliberal War Against Labor and Industry Published in The Contradictions of Austerity: The socio-economic costs of the neoliberal Baltic model Edited by Jeffrey Sommers & Charles Woolfson This article examines how neoliberal policymakers trained in the United States captured Latvia’s economic policy to impose pro-rentier, pro-bank, anti-labor tax and financial policies. Latvia’s national interests... Read More
A Land Tax is needed to hold down Housing Prices
How can China avoid the “Western financial disease” – a real estate bubble followed by defaults and foreclosures? The U.S. and European economies originally sought to avoid this fate by taxing the location’s site value. A rent tax was the focus of Progressive Era reforms. Enacting a rent tax remains China’s main challenge to accompany... Read More
The Queen Mother of Global Austerity and Financialization
We typically honor the convention to refrain from speaking ill of the recently departed. But Margaret Thatcher probably would not object to an epitaph focusing on how her political legacy was to achieve her professed aim of “irreversibly” dismantling Britain’s public sector. Attacking central planning by government, she shifted it into much more centralized financial... Read More
* A shorter version of this paper has been published in the Russian Academy of Sciences journal, Mir Peremen (The World of Transformations), 2012 (3):49-64 (in Russian). An earlier version was posted by the Global Policy Forum meeting in Yaroslavl, Russia, September 7-8, 2011, on its website. Russian poverty is unnecessary. Like all poverty in... Read More
As published in Counterpunch The Democrats could not have won so handily without the Citizens United ruling. That is what enabled the Koch Brothers to spend their billions to support right-wing candidates that barked and growled like sheep dogs to give voters little civilized option but to vote for “the lesser evil.” This will be... 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. Listen via here KCUR writes:
This is an edited and expanded transcript from a live phone interview by Dimitris Yannopoulos for Athens News, September 2012. Dimitris Yannopoulos: As an academic with a strong grounding in economic history as well as banking and a Clean Slate, professor Michael Hudson has built his own school of thought – distanced from both Keynesians... Read More
Michael Hudson
About Michael Hudson

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.