Michael Hudson — The Paradox of Financialized Industrialization

Congratulate Michael Hudson, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, on his new appointment as Guest Professor at Peking University.

These remarks were made at the World Congress on Marxism, 2015, at the School of Marxism, Peking University, October 10, 2015. The presentation was part of a debate with Bertell Ollman (NYU). I was honored to be made a permanent Guest Professor at China’s most prestigious university.

What follows is a summary of Marx's contribution to understanding the present global crisis in terms of finance capital, which Marx called "fictitious capital," and industrial capital, with workers having largely been successfully suppressed by both preventing them from pursuing the interest of the class or tricking them into not doing so. What he has been saying for a long time summarized in terms of the present in relation to China and the West.

Michael Hudson Blog
The Paradox of Financialized IndustrializationMichael Hudson | 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 Guest Professor at Peking University