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Michael Hudson 40 posts 0 comments

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 Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003). Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law. He gives presentations on various topics at conferences and meetings.

Political Economy

Will Greece Allow Central Bankers To Destroy Sovereignty?

Michael Hudson Jun 7, 2011

ECB intransigence leaves little alternative to breakup. Europe’s payments-surplus nations are waging financial war against the deficit countries. Without a common union based on mutual support within a mixed economy – one capable of…

Political Economy

Replacing Economic Democracy with Financial Oligarchy

Michael Hudson Jun 2, 2011

Greece and Ireland have become the litmus test for whether economies will be sacrificed in attempts to pay debts that cannot be paid. An interregnum is threatened during which the road to default and permanent austerity will carve out more…

Political Economy

Breakup of the euro?

Michael Hudson May 26, 2011

The creditors know that the game is up. All they can do is take as much as they can, as long as they can, pay themselves bonuses that are “free” from recapture by public prosecutors, and run to their offshore banking centers.

Political Economy

Why Iceland Voted “No”

Michael Hudson Apr 10, 2011

The vote reflected widespread belief that government negotiators had not been vigorous in pleading Iceland’s legal case. The situation is reminiscent of World War I’s Inter-Ally war debt tangle. Lloyd George described the negotiations…

Political Economy

Will Iceland Vote ‘No’ on April 9 or commit financial suicide?

Michael Hudson Apr 8, 2011

A year ago, in March 2010, Iceland’s economy was so small that it did not warrant much attention when 93% of its voters rejected the Social Democratic-Green government’s surrender to demands by Gordon Brown and the Dutch, the European Union…

Political Economy

Mr. Greenspan takes it all back. His Old Time Religion was right after all.

Michael Hudson Apr 3, 2011

By Michael Hudson It all seems so long ago! On October 23, 2008, Alan Greenspan choked up a mea culpa for his deregulatory policy as Federal Reserve Chairman. “Those of us who have looked to the self-interest of lending institutions to…

Political Economy

Norway’s Oil Fund: Realizing Full Potential in a Fiat Currency World

Michael Hudson Mar 7, 2011

The financial climate has changed radically from when Norway’s Oil Fund was established in 1990. Norway has built up its savings since then by selling enormous quantities of oil and gas, and employing many thousands of workers. By…

Political Economy

Debt Defaults, Austerity, and Death of the “Social Europe” Model

Michael Hudson Jan 23, 2011

By Jeffrey Somers and Michael Hudson A spectre is haunting Europe: the illusion that Latvia’s financial and fiscal austerity is a model for other countries to emulate. Bankers and the financial press are asking governments from Greece to…

Economy

Why Did America Have A 90% Income Tax Under Eisenhower?

Michael Hudson Jan 5, 2011

Michael Hudson reviews the reasoning behind income tax policy in the 20th century, a good lesson in financial history. Interestingly, he says that data show tax cuts have been followed by slow growth in the US.

Political Economy

Financial Interests Dictate Sovereign Policy

Michael Hudson Dec 18, 2010

by Michael Hudson Interview with Michael Hudson, Eleftherotypia, Sunday December 12, 2010. 1. A recent article of yours, “Schemes of the Rich and Greedy,” cites the bailouts in Europe among such schemes. What are the main faults with…