What Could Be Better Than...[Reading Michael Hudson] — Andrei Martyanov

Productive capital versus fictitious capital.

Reminiscence of the Future
What Could Be Better Than...[Reading Michael Hudson]
Andrei Martyanov

See also from Andrei Martyanov today.

Who Would Have Thought.

Reading The Signs.

Noblesse Oblige 2.0.

Michael Hudson — People’s Forum: Economic Lessons for 2020

Economic Lessons for 2020: A Conversation with Dr. Michael Hudson
Peoples Forum, December 12, 2019.

Michael Hudson re-posted this today on his site.

Michael Hudson — On Finance, Real Estate And The Powers Of Neoliberalism
People’s Forum: Economic Lessons for 2020

Michael 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

Zero Hedge — Canceling Debt And The Debate Over 5,000 Year Old Economic Policy

Michael Hudson filtering up.

Zero Hedge
Canceling Debt And The Debate Over 5,000 Year Old Economic Policy
Tyler Durden

The Saker interviews Michael Hudson

Introduction: I recently spoke to a relative of mine who, due to her constant and voluntary exposure to the legacy AngloZionist media, sincerely believed that the three Baltic states and Poland had undergone some kind of wonderful and quasi-miraculous economic and cultural renaissance thanks to their resolute break with the putatively horrible Soviet past and their total submission to the Empire since. Listening to her, I figured that this kind of delusion was probably common amongst those who still pay attention and even believe the official propaganda. So I asked Michael Hudson, whom I consider to be the best US economists and who studied the Baltics in great detail, to reply to a few very basic questions, which he very kindly did in spite of being very pressed on time. Once again, I want to sincerely thank him for his kind time, support and expertise. — The Saker

The Vineyard of the Saker
The Saker interviews Michael Hudson
The Saker

The Key to a Sustainable Economy Is 5,000 Years Old — Ellen Brown

Ellen Brown summarizes Michael Hudson 's ..and forgive them their debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year (THE TYRANNY OF DEBT Book 1).

Truthdig
The Key to a Sustainable Economy Is 5,000 Years Old

Ellen Brown

So, Michael Hudson Calls It — Andrei Martyanov

Hudson, who, by my primitive criteria, is one of the best (true) economics and economic history brains of our time doesn't mince the words and calls it as he sees it (correctly): Trump’s Trade Threats Are Really Cold War 2.0. Hudson correctly identifies the issue….

Reminiscence of the Future
So, Michael Hudson Calls It.
Andrei Martyanov

John Siman — Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts

Must-read.

Naked Capitalism
Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts

John Siman

Michael Hudson — Life & Thought: An Autobiography

This interview was conducted at Peking University for the Second World Conference on Marxism, May 7, 2018. It was conducted by Lau Kin Chi of the Global University for Sustainability....

Michael Hudson inherited impeccable Marxist credentials.

When I was 3 years old my father was put in jail under the Smith Act as a political prisoner for having the works of Lenin and Marx on his shelves and for being one of the leaders of the Minneapolis general strikes from 1934 to 1936. So I grew up knowing many members of the Russian Revolution, members of the Central Committee when Lenin was in power....

In 1960 when Leon Trotsky’s widow Natalia died, the executor of his estate Max Schachtman assigned me the copyrights, saying that since I was Trotsky’s godson, I should do a publishing company....

Good read, even if you are not a fan. It's pretty funny to hear him tell the tales of what shaped him as an economist and historian of economics. Quite remarkable, actually.

Michael Hudson — On Finance, Real Estate And The Powers Of Neoliberalism

Life & Thought: An Autobiography
Michael 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

Nick Johnson — Michael Hudson on Modern Monetary Theory

Quote from J is for Junk Economics.

The Political Economy of Development
Michael Hudson on Modern Monetary Theory
Nick Johnson

Economic Growth And Private Sector Debt Levels: Lessons (Not Yet?) Learned — Investment Cycle Engine, Inc

Summary

• High private sector debt/GDP ratios will continue to hamper US economic growth.
• Mainstream macroeconomic models by design ignore the financial cycle and do not provide any insights about the financial cycle.
• Macroeconomic models should have macroeconomic foundations and incorporate financial stability considerations.

Good post based on a Post Keynesian analysis. But doesn't mention either Hyman Minsky, whose financial instability hypothesis explains the financial cycle, or MMT, which would bolster his argument. However, I understand the scope of posts at blogs is limited, so he had to make choices, and overall the post is well done the way he sets it up.

Seeking Alpha
Economic Growth And Private Sector Debt Levels: Lessons (Not Yet?) Learned
Investment Cycle Engine, Inc

Nick Johnson — Economic ‘distortions’, ideology and the role of government

Quote from Michael Hudson's Trade, Development and Foreign Debt (1992, 2009).

The Political Economy of Development
Economic ‘distortions’, ideology and the role of government
Nick Johnson

Edward Harrison — Where Post-Keynesians and Austrians meet on economics

Credit.

Credit Writedowns
Where Post-Keynesians and Austrians meet on economics
Edward Harrison

See also

Can Macron reform Europe?: A mental model for thinking about the economics

Michael Hudson — Bloomberg’s Hit Job on Venezuela – and Me

None of my beliefs are what Bloomberg and Caracas Chronicles implied.

Moar on the creation of fake news by the MSM.

Counterpunch
Bloomberg’s Hit Job on Venezuela – and Me
Michael 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

How Bankers Became the Top Exploiters of the Economy — Adam Simpson interviews Michael Hudson

Long but interesting. Much on Michael Hudson's background.

Counterpunch
How Bankers Became the Top Exploiters of the Economy
Adam Simpson interviews Michael Hudson

The Arthurian — A response to Bezemer & Hudson's "Finance is Not the Economy"

Nominal versus real.

The New Arthurian
A response to Bezemer & Hudson's "Finance is Not the Economy"

The Arthurian

Dirk Bezemer and Michael Hudson — Finance is Not the Economy

Abstract: Conflation of real capital with finance capital is at the heart of current misunderstandings of economic crisis and recession. We ground this distinction in the classical analysis of rent and the difference between productive and unproductive credit. We then apply it to current conditions, in which household credit — especially mortgage credit — is the premier form of unproductive credit. This is supported by an institutional analysis of postwar U.S. development and a review of quantitative empirical research across many countries. Finally, we discuss contemporary consequences of the financial sector’s malformation and overdevelopment.

Michael Hudson

Finance is Not the Economy
JOURNAL OF ECONOMIC ISSUES Vol. L No. 3 September 2016
DOI 10.1080/00213624.2016.1210384
Dirk Bezemer, professor of economics at the University of Groningen, the Netherlands, and Michael Hudson, distinguished research professor of economics at the University of Missouri, Kansas City, and a professor at Peking University.

Paul Craig Roberts and Michael Hudson — The Atlanticist Tactic Revisited

Paul Craig Roberts and Michael Hudson team up to analyze the Russian economy and economic policy. MMT-friendly.

Michael Hudson
The Atlanticist Tactic Revisited

Paul Craig Roberts and Michael Hudson

Yves Smith — Paul Craig Roberts on Michael Hudson’s Killing the Host

PCR's post at his website was also shared on Counterpunch, but now Yves has given it further exposure.

PCR: "Michael Hudson is the best economist in the world. Indeed, I could almost say that he is the only economist in the world. Almost all of the rest are neoliberals, who are not economists but shills for financial interests."

Naked Capitalism
Paul Craig Roberts on Michael Hudson’s Killing the Host
Yves Smith

Tony Wikrent — Michael Hudson on the American School of Political Economy

Too many liberals and progressives are stunningly ignorant of the war of ideas and ideologies hidden behind the staid mask of the academic discipline of economics. A common assumption is that the corporatist authoritarianism we must deal with today is a direct result of the structure of government established by the Constitution. Corporatism and exploitative financial capitalism were "baked into the cake," according to these people. A fairly typical statement: "The founders were focused almost exclusively on maintaining the status quo of property relations, which they already dominated." 

I view the issue entirely differently: ever since the surrender of Cornwallis, the American republic has been under unceasing assault by its oligarchical enemies. The question to ask is: how was the American republic subverted and corrupted from within to erode its natural enmity to oligarchs and concentrations of power - economic as well as political?

real economics
Michael Hudson on the American School of Political Economy
Tony Wikrent

Tom O’Brien conducted an excellent interview with Mathew Forstater in November 2012 on the topic of Marx and Modern Monetary Theory (MMT). The first half of the interview focuses on Marx, particularly in relation to primitive accumulation and fiat currency as one mechanism used to drive the process.…

The second half of the interview covers basic MMT while drawing out how operational relics left over from the gold standard era are contributing to the public misconception of government as a household.…

heteconomist
A Tom O’Brien Interview of Mathew Forstater on Marx & MMT
Peter Cooper