Michael Hudson on How to Save the Economy from the Upper Class

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Full Episode: • Michael Hudson: Neolib...
Robinson's Podcast #180 - Michael Hudson: Neoliberalism, Industrial Capitalism, and the Rise of Debt
Michael Hudson is Distinguished Research Professor of Economics at the University of Missouri, Kansas City and President of the Institute for the Study of Long-Term Economic Trends. He researches domestic and international finance, the history of economics, and the role of debt in shaping class stratification, among many other topics. In this episode, Robinson and Michael discuss this last subject. They begin broadly, with how as an economist Michael even thinks of debt, and move on to questions concerning the rentier class, industrial capitalism usury, and neoliberalism, as well as Michael’s beliefs about what must be done to save the economy. Michael’s most recent book is The Collapse of Antiquity (ISLET, 2023).
Michael’s Website: ⁠michael-hudson...⁠
The Collapse of Antiquity: a.co/d/0TMt9Sh
Robinson Erhardt researches symbolic logic and the foundations of mathematics at Stanford University. Join him in conversations with philosophers, scientists, weightlifters, artists, and everyone in-between.
Robinson's Website: robinsonerhardt...

[@paulmicks7097]

Great show , Micheal is a national treasure that people need to hear.

[@bill8985]

I'll keep watching these if you keep posting them.

[@mikehayne538]

I agree. Wow. This is freedom of speech!

[@marceycarsey5535]

Thank you Dr. Hudson!

[@landontesar3070]

Helluva title for this communication.

[@jeanlanz2344]

You do not need violence to enact revolutionary change. Please read Viking Economics by George Lakey. It is an easy-read book by an American married to a Norwegian and living in Norway for decades. The Norwegian labor movement rejected the International Communist party's call for violence. Instead they engaged in peaceful strikes, with the most industrial conflict in the world during the 1930s. At that time, the social democrats also united with the rural people to achieve a majority. With the help of a political party, the Social Democrats, to back them up, the unions were able over decades to peacefully enact many positive changes to their economy that benefited the people. Also, "Civil Resistance: What Everyone Needs to Know" by Erica Chenoweth shows thru meticulous research that "from 1900-2019, 65% of nonviolent campaigns without fringe violence succeeded in overthrowing regimes or winning self-determination. By contrast, only 35% of nonviolent campaigns that included fringe vioence succeeded." (160) General strikes and economic noncooperation are particularly effective. I don't agree with all the points in her book, but she has uncovered a lot of great information about how to peacefully enact radical changes in corrupt systems. God bless you.

[@RightTailAngst]

Wow as a landlord I gotta say that is a great plan to fix everything

[@urrywest]

Where did Hudson post his summary of these ideas?

[@jandlouhy6914]

Nationalise Black Rok , Google and Amazon .

[@daviddavis9727]

There's no cause or reason 😊

[@dadsonworldwide3238]

Their useing the public sector money to gamble on its merits, on its expansion. Memphis grizzly NBA team for example is a shell compan an llc. public investment but granting llc rare rights and benefits as if the oligarch is operating as a private sector individual company. This is where I feel like he says one thing. Identifys a problem but then switched to a secondary effect that advances the problem but switches hands of the few in control. Separating the oligarchy from hiding behind the true private sector individual entrepreneurship is key. Privatization of trucking industry took 70 years to access tech so that individuals could work 15 years save and become their own ,owner operators of skills and trade. The phylinropic loopholes allows them to use boards for cheap to undermine any project Veritas, or any we the people movement that pushes back. We all would rather Americans actually over a small public sector thats way to large. Computation is 20 years delayed from stream lining and downsizing it. Ai will make most of it redundant or obsolete. Police chiefs brought under the constitution free from mayors authority elected by the people for the people is the number one counter that can be physically done. It undermines everything

[@dadsonworldwide3238]

As everyone has witnessed trucking and farming equipment has a power they fear to the point we've wasted countless tax dollars on electric on and off switches to undermine this ability. Focus on interstate protest killing young lives is stressing locals to over react and maybe self sacrifice their own right to protest. We have to smarter than just undermining private sector as a whole. We know what rules & regulations are allowing them to say one this but do another. Privatization is you and I monopolization over free speech messaging. Dead speak corps and other public sector is the socialism exhausting us all. The oligarchy is bleeding it dry and is a friendly to it. They are the public owners.

[@mikehayne538]

Good essay. I lack friends that talk like this.

[@dadsonworldwide3238]

@mikehayne538 8 billion ppl authoring history in real time ass opposed to major city's or an aristocracy of Winners definitely changes things.

[@mikehayne538]

Yeah. In real life I keep getting bullied and everything is a fight. Here, comments impress me as thoughtful.

[@dadsonworldwide3238]

@@mikehayne538 Well ,we are coming out of 90 years of granting deterministic simplicity and unification upon everything physicalism, classisms, economics 1945s Smith_mundt act that pushed infinite sums of complexity down upon the many different diciplines and peoples shared word and likeminded context of America to accommodate the world and greater good. They literally censored all things 3 line of measure = truest True known standard flipped it into a 3 body problem and censored pragmatic common sense objectivism proper. The soul of nation ppl and universe itself

[@landonian1223]

all this talk of privatization in the US and the only example he has are toll roads? weak argument i think if you actually follow how wealth is generated in the US, like actually follow the $$, it is not via government ----> privatization, straight up

[@StephenPaulKing]

I see one HUGE problem! The Government is NOT a person and thus can not be used as such in the discussion of Ownership.

[@LongDefiant]

Please expand on this thought. It seems like a non-sequitur.

[@mgore714]

First

[@LongDefiant]

Wow, Georgism.

[@GabrielHellborne]

No; land tax is merely one aspect of dealing with a new rentier class. Rent is being charged on more than just physical property. There's cloud capital, stocks and bond ownership that pays little to no tax, there are many, many forms of ownership that need taxing. And that's just to roll back the neo-feudalist tendencies of modern capitalism.

[@LongDefiant]

@@GabrielHellborne this was just a comment that hopefully got people to look it up, and to show that Hudson is rooted in historical analysis rather than a crank. I'm for anything that disrupts the rentier class. They need to learn to work for a living.... Let's GOOOOO!

[@dananders9676]

Sounds like Stiglitz. Sounds like a reasonable suggestion, assuming one can trust the people who will be running this new socialist utopia. No im not happy with the ways things are; he correctly identifies the problems. But his solutions are not palatable whatsoever. We need a third solution; Martin Armstrong’s ideas are far superior herein. Monetize the debt and pass new legislation where the problem can’t be repeated.