Meet the Renegades: Michael Hudson
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With every major financial recovery since the second World War beginning in a place of greater debt than the one before it, how could we not have foreseen the financial crisis of 2008? In this episode of Meet the Renegades, economics professor and author, Michael Hudson argues we did. How could an economy that created so much debt also save the banks rather than the economy itself, following the 2008 financial crisis? Michael discusses the phenomenon of debt inflation and how the economic curriculum should change. "If you're teaching economics, you should begin with the relationship between finance and the economy, between the build up of debt and the ability to pay." Michael discusses the 'Great Moderation', a common misrepresentation of a healthy economy in which job productivity was increasing, labor complacency was at an all-time low was a complete myth. Michael argues that 'traumatized' workers were too in debt to fight for better working conditions leading up to the 2008 financial crisis and how this reflects neo-classical ideas. Michael offers solutions - urging the importance of writing down the debt and keeping basic services in the public sector, ridding the economy of financial tumors through a proper tax policy based upon the this public sector model.
Comments
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Brilliant. He completely eclipses Piketty's analysis.
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this rules
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Debt is evil. It is unnecessarily destructive. It takes wealth from the poor and gives it to the rich.
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Where have you people been hiding out all this time?
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20 minutes.If we are dying from the weight of the economic overhead it makes room for new powers rising.
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He's just trying to protect his world of the liberal democratic state ...
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our usa 'free' market is slavery without security.
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There is hope in the world... some people are still thinking...
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16:03 👏👏👏
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@28:04 Michael Hudson once fired Alan Greenspan? Damn.
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Great Marxist economist. He's the godson of Leon Trotsky! Another great economist in the same mold is Richard Wolff.
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When will Michael Hudson win the Nobel Prize for Economics ?
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Lending is just a clever way to enslave. It's no wonder the emperors of Rome strictly controlled usury. UsuryThe crime of charging higher interest on a loan than the law permits.
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Your confusing us with the facts.
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maybe you should drop that long flashy intro. if I wasn't a squealing fangirl for Mike, I would have closed the video.
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On a - cheery note : TINA (Thatcher IS Netherworld Abiding) - friend to child disappears : democratic leader assassin R > G
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Hudson misses the point that the cultural degeneracy of America is also the poison that makes people accept economic domination. That's why democrats are the party of the banks and cultural deterioration. libido dominandi.
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Good production folks. Thanks to Michael Hudson. If y'all like the work of Professor Hudson, he is a regular guest on the Real News Network out of Baltimore MD [http://therealnews.com/t2/index.php?option=com_content&task=view&id=851&Itemid=74&jumival=michael+hudson&search=search]
I'll promote Renegade Inc. and it's content wherever possible. -
Trump grandiloquence has good points, “he wants to change the system” the system indeed has collapse, no point in changing it the now is create a new system. He wants peace with Russia is good, end of Syrian war. Good; on the other hand, he wants Israel to expand, bad, that will continue wars in the middle east. He wants to be friends with Russia and enemy of china and Iran. Russia Iran and chine are allies bad. He hates the media yes, we all do; manipulation brainwashing, however he depends on the media reporting, “positive or negative”. People in fact want the same thing globally, less wars and more fun. To consolidate the good things, they must unite, so trump has to be friends with Iran to be friends of Russia, and china. He most defends the Palestinians 1967 borders for israel return of refugees; to have the Muslims stop their endless war, since 1948. Be comprehensive, coherent; for people to trust him, otherwise it becomes suspicious confusing and that could lead to an autocratic government that makes order by force; not reason. fascism.
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Brilliant...you'll never see this guy on Question Time!!!
30m 8sLenght
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