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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
  • 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

  • Post-Political Post-Aesthetics
    Marc James Léger Picasso in Palestine

    The universal premises of culture and politics have been subject to criticism from the moment that Enlightenment theories emerged. In postmodern theory, radical skepticism replaces judgement and makes universal speculation seem like either an absurd game or a violent imposition.

Lost & Found

  • The Puzzle of Financialization
    Harry Magdoff Monthly Review Volume 45, Number 5 (October 1993)

    In this reprise from October 1993, Henry Magdoff and Paul Sweezy ask: “Isn’t there anyone around here who understands how this capitalist system works?”

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