Glenn Diesen - Greater Eurasia Podcast Michael Hudson: The Strange Case of Europe’s Decline & Self-Harm
9 snips
Nov 10, 2025 
Michael Hudson, a renowned classical economist, unpacks the complexities behind Europe's economic decline and self-inflicted wounds. He reveals the motivations driving Europe's push to seize Russian assets and the military-industrial interests behind it. Hudson also discusses the implications of EU actions against China, risking economic isolation and supply disruptions. He critiques the shift in national interest favoring elites over public welfare, and emphasizes the long-term decline linked to financialization over manufacturing. A clarion call for change echoes throughout the conversation.
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Seizing Russian Assets Serves Arms Interests
- European leaders are pressing to seize frozen Russian assets to fund weapons and prop up their military industry.
- Michael Hudson argues this serves industrial investors, not European public interest.
Military Keynesianism Masks Industrial Policy
- Hudson links German political maneuvering and staged scares to boost defense contracts and industrial recovery.
- He says military Keynesianism is being used as an industrial policy substitute.
Postwar Reconstruction Versus Military Spending
- Hudson contends a post-war Russia would spend heavily rebuilding former Ukrainian regions and could use frozen funds in Europe.
- European hawks aim to block that spending and redirect funds into Europe's military industry.