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  • Monthly Review Essays

About Michael Hudson

Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “and forgive them their debts”: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year
  • Trump’s Inverted View of America’s Tariff History

    Trump’s inverted view of America’s tariff history

    Originally published: Michael Hudson Blog on April 14, 2025 (more by Michael Hudson Blog)

    Donald Trump’s tariff policy has thrown markets into turmoil among his allies and enemies alike.

  • Road to Singapore

    The Road to Chaos – A Global Balance of Payments War

    Originally published: Michael Hudson Blog on January 28, 2025 (more by Michael Hudson Blog)

    The 1940s saw a series of movies with Bing Crosby and Bob Hope, starting with the Road to Singapore in 1940.

  • Dollar Bomb

    Weaponizing the US. dollar

    Originally published: Michael Hudson Blog on January 12, 2025 (more by Michael Hudson Blog)

    Trump has promoted a number of plans to make America strong—at other countries’ expense.

  • stock market crashes

    As stock market crashes, is U.S. facing new financial crisis? Economist Michael Hudson explains

    Originally published: Geopolitical Economy Report on August 7, 2024 (more by Geopolitical Economy Report)  |

    The stock market crashed on August 5, in a new “Black Monday”. What caused it? Is the USA on the verge of a new financial crisis? Ben Norton is joined by economist Michael Hudson to discuss the extreme volatility.

  • BRICS

    How could a BRICS+ bank and settlement currency work? Economist Michael Hudson explains

    Originally published: Geopolitical Economy Report on October 10, 2023 (more by Geopolitical Economy Report)  |

    Economist Michael Hudson details how BRICS could create a mutual settlement currency for payment imbalances among central banks and build an alternative to the financialized neoliberal model of the dollar/NATO bloc.

  • Economist Michael Hudson

    4 U.S. banks crash in 2 months

    Originally published: Geopolitical Economy Report on May 5, 2023 (more by Geopolitical Economy Report)  |

    Economist Michael Hudson discusses the collapse of four U.S. banks in two months, giant JP Morgan Chase taking over First Republic Bank, and how government regulators are in bed with the bankers.

  • A run on American Union Bank in 1932

    Why the U.S. banking system is breaking up

    Originally published: Geopolitical Economy Report on March 12, 2023 (more by Geopolitical Economy Report)  |

    Economist Michael Hudson responds to the collapse of Silicon Valley Bank and Silvergate, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.

  • Ceiling

    American diplomacy as a tragic drama

    Originally published: Michael Hudson Blog on July 28, 2022 (more by Michael Hudson Blog)

    As in a Greek tragedy whose protagonist brings about precisely the fate that he has sought to avoid, the U.S./NATO confrontation with Russia in Ukraine is achieving just the opposite of America’s aim of preventing China, Russia and their allies from acting independently of U.S. control over their trade and investment policy.

  • The End

    The end of Western civilization

    Originally published: Michael Hudson Blog on July 13, 2022 (more by Michael Hudson Blog)

    The greatest challenge facing societies has always been how to conduct trade and credit without letting merchants and creditors make money by exploiting their customers and debtors.

  • Burning dandelion head.

    From junk economics to a false view of history: where Western Civilization took a wrong turn

    Originally published: Michael Hudson Blog on July 7, 2022 (more by Michael Hudson Blog)

    It may seem strange to invite an economist to give a keynote speech to a conference of the social sciences. Economists have been characterized as autistic and anti-social in the popular press for good reason.

  • Arizona was expected to see a 3.1 percent increase in jobs in 2014, the second-highest growth rate in the nation. (Photo: Thewmatt via flickr/Creative Common)

    The Fed’s austerity program to reduce wages

    Originally published: The Fed’s austerity program to reduce wages on June 19, 2022 (more by The Fed’s austerity program to reduce wages)

    To Wall Street and its backers, the solution to any price inflation is to reduce wages and public social spending. The orthodox way to do this is to push the economy into recession in order to reduce hiring. Rising unemployment will oblige labor to compete for jobs that pay less and less as the economy slows.

  • Euro, Dollars, Rubles

    America shoots its own dollar empire in economic attack on Russia

    Originally published: Naked Capitalism on March 7, 2022 (more by Naked Capitalism)

    Empires often follow the course of a Greek tragedy, bringing about precisely the fate that they sought to avoid. That certainly is the case with the American Empire as it dismantles itself in not-so-slow motion.

  • Stop War in Ukraine

    America defeats Germany for the third time in a century

    Originally published: Michael Hudson Blog on February 28, 2022 (more by Michael Hudson Blog)

    The question to ask is what today’s New Cold War is trying to change or “solve.” To answer this question, it helps to ask who initiates the war. There always are two sides—the attacker and the attacked. The attacker intends certain consequences, and the attacked looks for unintended consequences of which they can take advantage. In this case, both sides have their dueling sets of intended consequences and special interests.

  • Michael Hudson

    Michael Hudson – ‘Life and Thought’

    Originally published: Global University for Sustainability Youtube Channel on July 5, 2018 by Professor Lau Kin Chi and Professor Sit Tsui Jade (more by Global University for Sustainability Youtube Channel)

    Professor Hudson talked about his formative years, and his turn to economics from music as he found his mentor Terence McCarthy’s speech about economics beautiful and asethetic.

  • Super Imperialism: The economic strategy of American empire

    Super Imperialism: The economic strategy of American empire with economist Michael Hudson

    Originally published: The Grayzone on October 19, 2021 (more by The Grayzone)  |

    Economist Michael Hudson discusses the update of his book Super Imperialism: The Economic Strategy of American Empire and the financial motivations behind the U.S. new cold war on China and Russia.

  • Rentier Capitalism and Its Discontents: Power, Morality and Resistance in Central Asia. By Balihar Sanghera and Elmira Satybaldieva

    Central Asia’s neoliberal tragedy

    Originally published: Naked Capitalism on October 15, 2021 (more by Naked Capitalism)

    Resilience cannot be restored without public spending, but the rentier business plan is to minimize taxes by shrinking the government, especially by privatizing its public utilities and other functions to create opportunities for charging monopoly rents, and to oppose taxation of economic rent.

Monthly Review Essays

  • US Imperialism in Crisis: Opportunities and Challenges to a Global Community with a Shared Future
    Sam-Kee Cheng A late 1940s Soviet poster showing a US military service member lounging on top of a German factory, smoking a cigar. The text beneath reads DER DOLLARIMPERIALISMUS [dollar imperialism].

    1. Introduction The predominance of US economic, political and military power in the world was established at the end of the Second World War.1 With just 6.3 percent of global population, the United States held about 50 percent of the world wealth in 1948. As the only power which had used nuclear weapons on civilian […]

Lost & Found

  • Journalism, democracy, … and class struggle
    Robert W. McChesney Bob McChesney on Saving Journalism

    Our job is to make media reform part of our broader struggle for democracy, social justice, and, dare we say it, socialism.

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