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Michael Hudson

At the Oxford Economics Society

22/01/2021 [embedded content] Oscar Brisset:Welcome to the first event of the Oxford Economics Society for this academic year. I’m Oscar, the Co-President of our society, and I’m glad to welcome you back for another term of exciting discussions. Although we were hoping last term to be back in-person by January, due to the worsening Covid-19 situation in the UK our events this term are going to remain online, so that everyone at home can still participate. A new year calls...

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The rentier resurgence and takeover: Finance Capitalism vs. Industrial Capitalism

This article is based on Chapter 1 of Cold War 2.0. The Geopolitical Economics of Finance Capitalism vs. Industrial Capitalism (Dresden, ISLET: in press; Chinese translation 2021). © 2020. All rights reserved. Marx and many of his less radical contemporary reformers saw the historical role of industrial capitalism as being to clear away the legacy of feudalism – the landlords, bankers and monopolists extracting economic rent without producing real value. But that reform...

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Multipolarity and Financial Capitalism

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Rentiers a bunch of gangsters

Michael Hudson and Pepe Escobar discuss rent and rent-seeking, i.e., unproductive economic activity, in the US and China mainly but including the Russian, Iranian and Brazilian economies. In the first 15 minutes, an overview from Michael Hudson explains what happened in the US economy once jobs and manufacturing were offshored to mainly China.  He proposes that even if China did not exist, the US economy has been changed to the extent that it is almost impossible to change...

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A Hard Look at Rent and Rent Seeking

Upcoming – A Conversation with Michael Hudson and Pepe Escobar Date: Wednesday December 16th 2020Time: 9:00 – 10:30 am ESTFree registration:  https://www.eventbrite.com/e/a-hard-look-at-rent-and-rent-seeking-with-michael-hudson-pepe-escobar-tickets-132721723247 In this interactive seminar organized jointly by the Henry George School and the International Union for Land Value Taxation, Michael Hudson and Pepe Escobar will unpack one of the most destructive features of our...

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Jubillee Perspectives with Steve Keen

DEC 4, 2020Is it time for a debt jubilee? Steve Keen and Michael Hudson have both been arguing for a debt jubilee for some time. Now, as COVID-19 hits the poorest hardest, and leaves those with money better off than before, is this the right time to write off debt? Can the economy recover without it? After all, its stagnated since the 2008 global financial crisis. If you were to have a debt jubilee, how would you do it. Steve and Michael have different ideas about how it...

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Odd Lots, Bloomberg

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Debt Deflation and the Neofeudal Empire

Grumbine 2020`Macro N Cheese – Episode 88 Michael Hudson  (00:02):The money that you pay for debt service to a bank isn’t spent back into the economy. The bank bond holders are basically the 1% of the economy. They’re rich enough that they’re not going to take all this extra money they get to buy more goods and services. They’ll buy shitty trophy art, Andy Warhol junk. Who is the dumbest economic Nobel Prize winner? [Paul Krugman?] Paul Krugman. That’s right. He was given a...

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