[This interview was made for the Unz review] Introduction: There is a great deal of controversy about the true shape of the Venezuelan economy and whether Hugo Chavez’ and Nicholas Maduro’s reform and policies were crucial for the people of Venezuela or whether they were completely misguided and precipitated the current crises. Anybody and everybody seems to have very strong held views about this. But I don’t simply because I
by Michael Hudson Socialism a century ago seemed to be the wave of the future. There were various schools of socialism, but the common ideal was to guarantee support for basic needs, and for state ownership to free society from landlords, predatory banking and monopolies. In the West these hopes are now much further away than they seemed in 1917. Land and natural resources, basic infrastructure monopolies, health care and
by Paul Craig Roberts and Michael Hudson According to various reports, the Russian government is reconsidering the neoliberal policy that has served Russia so badly since the collapse of the Soviet Union. If Russia had adopted an intelligent economic policy, its economy would be far ahead of where it stands today. It would have avoided most of the capital flight to the West by relying on self-finance. Washington took advantage
NOTE: Readers are asking to know who, in addition to the Western-financed NGOs, are the Fifth Columnists inside Russia. Michael Hudson and I left the description general as Atlanticist Integrationists and neoliberal economists. The Saker provides some specific names. Among the Fifth Columnists are the Russian Prime Minister, head of the Central Bank, and the two top economics ministers. They are springing a privatization trap on Putin that could undo
by Michael Hudson for the Unz Review As Russia and Asia move to circumvent the stranglehold of an aging, U.S. dominated international financial and legal system with its promise of endless austerity and privatization by foreign investors, the IMF and World Bank double-down by making it more difficult for them to transact business and administer credit. A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered
by Michael Hudson specially for the Saker Blog On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF’s Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day or so.” Since 1947 when it really started operations, the World Bank
Dear friends It is my immense privilege and honor to submit to you my interview with Michael Hudson, whom I consider to be the best economist in the West. The Saker The Saker: We hear that the Ukraine will have to declare a default, but that it will probably be a “technical” default as opposed to an official one. Some say that the decision of the Rada to allow Iatseniuk
Foreword by the Saker: I am absolutely delighted to submit to you today an article by Michael Hudson whom I consider to be the best and most visionary economic out there, bar none. Michael has kindly agree to allow me to post this article and, even better, he also agreed for a Q&A interview with me. To say that I am honored would be an understatement. The Saker Ukraine Labor
The Ruble is slowly climbing back up and is already treading at a much more reasonable rate (with probably more readjustment ahead). See for yourself: But his happened at a great cost. See ZeroHedge about this: http://www.zerohedge.com/news/2014-12-25/ruble-rallies-34-after-biggest-russian-intervention-5-years Also, I would like to highly recommend the analysis of my favorite American economist, Michael Hudson who does a superb job explaining the Russian strategy for the Real News Network: http://michael-hudson.com/2014/12/russian-pivot/Cheers,The Saker
By Michael Hudson for Frankfurter Allgemeine Zeitung via Information Clearing House The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve in a democratic referendum. Bank strategists learned not to risk submitting their plans to democratic vote after Icelanders twice refused in 2010-11
By 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, for Naked Capitalism A longer version of this article in German was published in the Frankfurter Algemeine Zeitung on December 5, 2011 Book V of Aristotle’s Politics describes the eternal transition of oligarchies making themselves into hereditary aristocracies – which end up being overthrown
by Prof. Michael Hudson for Global Research Now that President Obama is almost celebrating his bipartisan willingness to renew the tax cuts for the super-rich enacted under George Bush ten years ago, it is time for Democrats to ask themselves how strongly they are willing to oppose an administration that looks like Bush-Cheney III. Is this what they expected by Mr. Obama’s promise to rise above partisan politics – by
This guy is, IMHO, the single best economist out there. Highly, highly recommended! According to the BBC: German Finance Minister Wolfgang Schaeuble said the US policy was “clueless” and would create “extra problems for the world”. South Africa’s finance minister Pravin Gordhan warned that “developing countries, including South Africa, would bear the brunt of the US decision to open its flood gates without due consideration of the consequences for other
