The antidote should be more government spending and larger deficits – as well as debt forgiveness.
Michael Hudson
Select articles by the President of The Institute for the Study of Long-Term Economic Trends (ISLET), Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971). Prof. Michael Hudson acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law. Truman Factor features Prof. Hudson's articles in English and in Spanish.
The Delicious Irony of Morris Greenberg’s AIG Suit Against the US Treasury
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.
Obama Wins for whom?
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.
The Social Economics of Thorstein Veblen
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.
QE3 = Jobs for Wall Street
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.
Michael Hudson’s New Book, The Bubble and Beyond
Essays on Fictitious Capital, Debt Deflation and the Global Crisis.
Financial Predators v. Labor, Industry and Democracy
Europe’s sovereign debt crisis in historical perspective.
Veblen’s Institutionalist Elaboration of Rent Theory
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.”
The Weaponization of Economic Theory
Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system.
Paul Krugman’s Economic Blinders
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?
Productivity, The Miracle of Compound Interest and Poverty
Rising productivity would raise wages and living standards, enabling people to work shorter hours under more relaxed and less pressured workplace conditions.
Debt: The Politics and Economics of Restructuring
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.
Debts that can’t be paid, won’t be
A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid.
MMT as an ECB Alternative
2,181 Italians pack a Sports Arena to learn Modern Monetary Theory
“The EU is proving that it works for private banks, but not for its citizens”
The Greek crisis is being used to find out how far finance can drive down wages and privatize the public sector.
Democracy and Debt
Has the Link been Broken?
[VIDEO] The Icelandic Example?
Interview for the Centre for Research on Globalization about the Icelandic recovery plan.
[VIDEO] The Greek People Never Agreed to the Debt or Austerity
Michael Hudson discusses how democracy has been subverted.
The State and Local Budget Crisis
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.
