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 third is to permit them to live under their own laws, drawing a tribute, and establishing within it an oligarchy which will keep it friendly to you.”
Oxford Economics Society on Jan 23, 2021
Nearly 50 years after the original publication of “Superimperialism”, Michael Hudson revisits how the lucrative dollar-based economic system that the US set up after WWII has evolved with the rise of China and the Covid-19 pandemic. What financial weapons is the US likely to use, and does China’s de-dollarisation protect it from such attacks?
theAnalysis-news on Dec 23, 2020
Allied with landlords and monopolists, the finance sector is extracting economic rents from the economy that’s impoverishing US government, industry and labor says Michael Hudson discussing the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.
theAnalysis-news on Nov 2, 2020
Trump’s economic policies have not addressed the fundamental forces that have gutted industrial jobs under the administrations of both parties, says economist Michael Hudson on theAnalysis.news podcast with Paul Jay.
RT on Oct 7, 2020
It remains unclear who will be the occupant of the White House next January. What can be easily predicted is the state of the economy for tens of millions of citizens. It appears what is called a K-shaped recovery is permanently dividing the country into the haves and have-nots. And this seems to be acceptable for those who are the haves!
The U.S. is Saving the Financial Sector, not the Economy
Before juxtaposing the U.S. and alternative responses to the coronavirus’ economic effects, I would like to step back in time to show how the pandemic has revealed a deep underlying problem. We are seeing the consequences of Western societies painting themselves into a debt corner by their creditor-oriented philosophy of law. Neoliberal anti-government (or more accurately, anti-democratic) ideology has centralized social planning and state power in “the market,” meaning specifically the financial market on Wall Street and in other financial centers.
Global University for Sustainability on Apr 24, 2020
On 22-24 November 2019, International Seminar on Land, Finance, and De-dollarization was held in Macau, China, which was co-organized by Global University for Sustainability, Lingnan University, Southwest University, and the Federal University of Espirito Santo.
Moderate Rebels on Apr 20, 2020
Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders.
The Democrats’ Quandary
To hear the candidates debate, you would think that their fight was over who could best beat Trump. But when Trump’s billionaire twin Mike Bloomberg throws a quarter-billion dollars into an ad campaign to bypass the candidates actually running for votes in Iowa, New Hampshire and Nevada, it’s obvious that what really is at issue is the future of the Democrat Party. Bloomberg is banking on a brokered convention held by the Democratic National Committee (DNC) in which money votes. (If “corporations are people,” so is money in today’s political world.)
RT on Jan 2, 2020
Continuing with their New Year’s Eve celebrations, the Keiser Report is joined by Dr. Michael Hudson, author of Super Imperialism: The Origin and Fundamentals of US World Dominance. Will 2020 see further decline in that super imperialism about which he first wrote all those decades ago? They discuss this and then turn to the upcoming elections in the US and whether or not he believes the stock market numbers will aid Trump. Finally, the discussion takes in Hudson’s views on uprisings globally and whether they herald the end of the age of neoliberalism.
Why we need to abolish the Democratic National Committee, even if that means breaking up the Democratic Party
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 the limited airing of their personalities reflects the fact that 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 sucked into legitimizing the bad choices put before them.
We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt are all higher than they have ever been. As economist Michael Hudson writes in his provocative 2018 book, “…and forgive them their debts,” debts that can’t be paid won’t be paid. The question, he says, is how they won’t be paid.
Control of oil has long been a key aim of U.S. foreign policy. The Paris climate agreements and any other Green programs to reduce the pace of global warming are viewed as threatening the aim of dominating world energy markets by keeping economies dependent on oil under U.S. control. Also blocking U.S. willingness to help stem global warming is the oil industry’s economic and hence political power. Its product is not only energy but also global warming, along with plastic pollution.
So, Canada, the Canadian people unfortunately are deprived of honest representation of provincial desires, provincial needs, by the fact that the financial sector, the banks, are pretty much running the country.” – Michael Hudson
On the weekend of July 19-21st, 2019, the University of Manitoba became the venue for the 14th Forum of the World Association for Political Economy (WAPE). This annual event represents a gathering of Marxist economists from around the globe, and aims to utilize current understandings on the subject to analyze and study the world economy, reveal its laws of development, and offer policies to promote economic and social progress on national and global levels.