Renegade Economists interview April 22nd, 2014 Listen Subscribe to the weekly podcast. Karl Fitzgerald: Michael Hudson – www.Michael-Hudson.com – is back on the 3CR airwaves with an explosive show moving through the incredible wealth gap as outlined by Thomas Piketty. His book is barnstorming the world at the moment. We review it, alongside a...
Obama channeling Cheney?
More at The Real News I’m Jessica Desvarieux in Baltimore. And welcome to this edition of The Hudson Report. Now joining us is Michael Hudson. He is a distinguished research professor of economics at the University of Missouri-Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and Its Discontents....
Anti-Russian sentiment a resource play diversion
Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore. Hundreds of pro-Russian protesters have seized public buildings in Eastern Ukrainian cities. They’re demanding referendums to secede from Ukraine in order to become a part of Russia. Ukrainian officials have blamed Putin for this continued unrest, but it should be noted that Ukraine...
R is for Rentier
The latest instalment to the Insider’s Economic Dictionary. Race to the bottom: A term for dog-eat-dog competition by which countries compete by cutting wage levels so as to produce in the cheapest market, not by raising wages and labor productivity. The effect is to shrink the circular flow between producers and employee-consumers, leading to...
P is for Ponzi
Part P in The Insiders Economic Dictionary. Panic: The abrupt culminating stage of the business cycle, in which inflated asset prices collapse in price as financial securities and properties are sold to pay off debts. Parallel Universe: The objective of modern economic methodology. A hypothetical exercise in science fiction depicting a world that conceivably...
Ukraine’s Boomerang Aid
with Thom Hartmann from RT’s The Big Picture.
Crimea: Geo-Political Gas
More at The Real News Who In Ukraine Will Benefit From An IMF Bailout? Economists Michael Hudson and Jeffrey Sommers discuss how provisions in an IMF deal like cuts to gas subsidies and pensions will hurt the average Ukrainian citizens and benefit kleptocrats – March 21, 14 Bio JEFFREY SOMMERS is an associate professor...
Russia, Crimea and the Consequences of NATO Policy
Ukrainian Hangovers AS first published on Counterpunch by JEFFREY SOMMERS and MICHAEL HUDSON Russia’s incursion (invasion if you prefer) into Crimea, with prospects for movement into Eastern Ukraine, is the culmination of US/NATO policy since 1991. The unraveling of the USSR and its Soviet bloc (the Warsaw Pact) dismantled the largest empire in modern...
Ukraine, Austerity….Again?
An interview with WBEZ on the one-sided view of economic reform. WBEZ writes: Both the U.S. and the E.U. have pledged aid packages to help Ukraine’s new government stabilize the country’s economy. The IMF also has a team on the ground in Ukraine, currently analyzing the country’s debt crisis. They expect to make recommendations...
Ukraine: “Go West, Young Man”
By Jeffrey Sommers & Michael Hudson As first published on Truth Out “Let them loot.” That is the demand of the West when its NGO subsidiaries firebomb government buildings, murder policemen and loot the arms depots of military forts. Kiev is the equivalent of Kosovo as a Slavic city-of-origin. Are we seeing a replay?...
Russia’s Economic Development to Offset Terrorist Fervor?
By Jeffery Sommers & Michael Hudson The Sochi Olympics were the great success Russia hoped for. The opening ceremonies proved a radiant display drawing on Russia’s most compelling cultural assets. This artful look back to Russia’s past greatness proved both a reminder and challenge to its own people to reprise their historical greatness going...
Monopoly’s Poster Children
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...
N is for Neo-Serfdom, O for Offshore Banking
Part N, O in The Insiders Economic Dictionary. Neoclassical economics: The school that arose in the last quarter of the 19th century, stripping away the classical concept of economic rent as unearned income. By the late 20th century the term “neoclassical” had come to connote a deductive body of free-trade theory using circular reasoning...
M for Marginalism
Part M in The Insiders Economic Dictionary. Malthus, Thomas Robert (1766-1834): British economist and spokesman for its landlord class. His Principles of Political Economy (1820) countered Ricardo’s critique of groundrent by pointing out that landlords spent part of it on hiring coachmen and other servants and buying luxury products (coaches, fine clothes and so...
L is for Land
Part L in The Insiders Economic Dictionary Labor: The labor theory of value resolves the value of products and capital goods into labor costs, while Say’s Law focuses on how employees spend their wages. Hence, labor often is euphemized as “consumers” rather than focusing on the terms of their employment by capital. Labor capitalism:...
95% Income Growth Goes to the 1%
Interviewed by Lira of Boom Bust, starting at 5 minutes. Pt2 coming soon.
Trade Advantage Replaced by Rent Extraction
I was interviewed on the Renegade Economists radio/ podcast entitled Crony Competition on the road to Unearned Income: Prof Michael Hudson gives a wrap on the economics of 2013 as we discuss Detroit, Iceland, Madoff, Marx and Blackstone Capital. Why Comparative Advantage was replaced by Rent Extraction – with Prof Michael Hudson by Renegadeeconomists...
Surviving Oligarchy
A clip from Surviving Progress as so kindly linked to by Max Keiser and team. Please read my latest book for detail on the structures enhancing oligarchy.
J is for Jubilee, K for Kleptocrats
Part J in The Insiders Economic Dictionary Jubilee Year: In Judaic Law (Leviticus 25) a Clean Slate to be proclaimed every 50 years annulling personal and agrarian debts, liberating bond-servants to rejoin their families, and returning lands that had been alienated under economic duress. Long thought to have been merely a literary religious ideal,...
I is for Ideology
Ideology: A set of assumptions so appealing that one looks at their abstract logic rather than at how the world actually works. (See Insanity.) Ignorance: Socrates said that ignorance was the source of evil, because nobody knowingly commits evil. But by pursuing their own narrow interests, the financial and property sector destroy the social...
Books by Michael Hudson
