This week’s episode is another webinar from our RP Live series: Inside a Failed State, with Michael Hudson.
Michael prefers a Q&A format. Attendee questions revolved around US political economy, domestic and global. He discusses topics such as healthcare, de-dollarization, and the impact of economic policies on the working class. He emphasizes the need for a change in economic philosophy and highlights the government's ability to create money for social programs.
A common Hudson theme is the difference between the production and consumption economy, or what he calls the real economy, and the financial sector of assets and liabilities, of loans and debts, which is superimposed on the real economy.
“Money is spent in the real economy, but bank credit is spent really just to increase the debt overhead in the economy — the overhead of mortgage debt, of corporate debt, and speculative debt.”
A Michael Hudson episode always sparks lively, sometimes contentious, comments. His insights on finance, politics, and class power dynamics give fans and detractors alike something to chew on.
Michael Hudson is 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. Support him at patreon.com/michaelhudson
Find his work at michael-hudson.com
