The antidote should be more government spending and larger deficits – as well as debt forgiveness.
Let’s hope that Mr. Greenberg’s lawsuit will expose the Treasury’s dirty laundry as a catalyst to reopening alternatives to the false hope of inflating a new bubble.
Mr. Obama has joined with the Republicans in perverting the vocabulary to pretend that government is the problem, not his campaign contributors on Wall Street.
Those who wish to understand the many and deep contributions of Thorstein Veblen to economics will find that this offering falls short of the mark.
You’re bailing out banks’ ability to profiteer off the economy and sell all of the junk mortgages that they’ve got from Countrywide Financial and the other big fraudulent, criminalized financial agencies.
Essays on Fictitious Capital, Debt Deflation and the Global Crisis.
Europe’s sovereign debt crisis in historical perspective.
Despite the popularity of Veblen’s writings with the reading public, his contribution has remained isolated from the academic mainstream, and he did not leave a “school.”
Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system.
Many of Mr. Krugman’s readers find him the leading hope of opposing even worse Republican politics. But what can be worse than the Rubinomics that Larry Summers, Tim Geithner, Rahm Emanuel and other Wall Street holdovers from the Democratic Leadership Committee have embraced?
Rising productivity would raise wages and living standards, enabling people to work shorter hours under more relaxed and less pressured workplace conditions.
Michael Hudson’s presentation for the session “The Challenge of Deleveraging and Overhangs of Debt II: The Politics and Economics of Restructuring” at the Institute for New Economic Thinking’s (INET) Paradigm Lost Conference in Berlin.
A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid.
2,181 Italians pack a Sports Arena to learn Modern Monetary Theory
The Greek crisis is being used to find out how far finance can drive down wages and privatize the public sector.
Has the Link been Broken?
Interview for the Centre for Research on Globalization about the Icelandic recovery plan.
Michael Hudson discusses how democracy has been subverted.
The cost of the 2011 cutbacks in federal spending will fall most directly on consumers and retirees by scaling back Social Security, Medicare, Medicaid and social spending programs. The population also will suffer indirectly, by lower federal revenue sharing with U.S. states and cities.