959:"Marx and many of his less radical contemporary reformers saw the historical role of industrial capitalism as being to clear away the legacy of feudalism—the landlords, bankers, and monopolists extracting economic rent without producing real value. However, that reform movement failed. Today, the finance, insurance, and real estate (FIRE) sector has regained control of government, creating neo-rentier economies. The aim of this postindustrial finance capitalism is the opposite of industrial capitalism as known to nineteenth-century economists: it seeks wealth primarily through the extraction of economic rent, not industrial capital formation. Tax favoritism for real estate, privatization of oil and mineral extraction, and banking and infrastructure monopolies add to the cost of living and doing business. Labor is increasingly exploited by bank debt, student debt, and credit card debt while housing and other prices are inflated on credit, leaving less income to spend on goods and services as economies suffer debt deflation."
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a series of five conferences between 1994 and 2004 gathering leading scholars in the pertinent disciplines to investigate this topic, assemble relevant contemporary scholarship and publish it in a series of volumes. The five conferences focused on
Privatization In The Ancient Near East and Classical World; Urbanization and Land Ownership; Debt and Economic Renewal in the Ancient Near East; Creating Economic Order: Record-Keeping, Standardization, and the Development of Accounting; and Labor In The Ancient World. Cumulatively, this work demolishes a wide range of economic myths (the origin of markets and money in barter, for example, and of money in metals or coinage) and replaced them with carefully documented, extremely revealing facts. In their investigation of the origins of debt and usury they found the first and by far the earliest major creditors were the temples and palaces of
715:(IMF) was created within the framework as well as a gold pool which guaranteed the dollar was as good as gold, capital began to leave the country and move to Europe. Military expenditures accounted for a huge share of the United States budget deficit, which tried in vain to prevent further growth in the deficit, on the one hand in every way limiting the flow of gold and on the other hand not allowing foreign central banks to receive gold for the given dollars. Such a policy appealed to European bankers who found such a policy hypocritical. Yet they went along with it, acquiesced, surrendered, as they were afraid to bring down the dollar and thereby deprive their products of competitiveness in US markets.
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722:, Hudson showed US export statistics erroneously included a class of goods whose transfer abroad did not involve payment at any time, from residents of one nation to those of another; and, which are for this reason not really international transactions at all. Primary among this class of goods were the transfers of aircraft parts and components by the United States to international airlines at their overseas air terminals and installation on their aircraft.
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those of the bankers and other financial institutions, stating: "Free market ideology ends up as political
Doublethink in countering any freedom of thought. Its remarkable success in the United States and elsewhere thus has been achieved largely by excluding the history of classical, conservative economic thought from the early 1800s, which culminated in many ways with Marx. These have been expunged from conventional economics curriculum".
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703:. He drew attention to the fact, even without war, the US economy very soon came to a critical point. The welfare of the US in the postwar years was in many cases provided with a "golden pillow", it had created for itself between the end of WW I and the end of WW II (per Michael's Empire lectures on Youtube April 2021 and other 2021 recorded lectures). Since 1934, when frightened by
1083:, with an introduction by Hudson, Volume II in a series sponsored by the Institute for the Study of Long-term Economic Trends and the International Scholars Conference on Ancient Near East Economies: A Colloquium Held at New York University, November 1996 and The Oriental Institute, St. Petersburg, Russia, May 1997, published by
873:. He states finance and "financialization" has been key to guiding politics into reducing the productive capacity of the United States and Europe. The elite financial class benefits from non-productive finance tactics and strategies. They have used these techniques to harm Chile, Russia, Latvia and Hungary.
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1960–1968, resulting mainly from its military operations. Existing accounting systems mixing government and private flows did not show the problem and the source of disparities. In his monograph, Hudson made an attempt to divide the United States balance of payments into government and private sectors.
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Mesopotamia, not private individuals acting on their own. The rate of interest in each region was not based on productivity. It was set purely for simplicity of calculation in the local system of fractional arithmetic, i.e., 1/60th per month in
Mesopotamia and later one-tenth per year for Greece and
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At the end of the 1980s, Hudson diverged from the field of modern economics in order to explore the foundations of modern western financial practices and concepts in ancient
Mesopotamia. Under the aegis of the Institute for the Study of Long-Term Economic Trends, which he organized, Hudson convened
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In 1971, after cancelling the right to redeem gold for dollars, the US forced foreign central banks to buy US treasury bonds. This income was used to finance the federal deficit and large, overseas military expenditures. In exchange for providing a net surplus of assets, commodities, debt financing,
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According to the documentary evidence which Hudson and his colleagues assembled and published, rather than debts being held sacred, instead what was sacred in the ancient Near East was the regular cancellation of debts. These included agrarian debts, freeing of bondservants as well as freedmen from
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He believes keyboard credit and treasury outflows in exchange for foreign assets without a future, means for the United States to repay the treasuries and a decreasing value of the dollar is akin to military conquest. He believes the surplus balance of payments countries have the right to stabilize
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These transfers were brought into the host country under bond and therefore were excluded from import statistics. At the same time, their value was included in the United States export statistics as a credit, therefore the government sector has been in sizable deficit on a payments-flow basis during
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with special attention to credit policy in the agricultural sector. Many years later, Hudson recognized: "The topics that most interested me ... were not taught at New York
University where I took my graduate economics degrees. In fact, they are not taught in any university departments: the dynamics
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as a class is better off paying as few rents as possible. This is because wages can be lower if workers have less overhead. This lowers the price of goods they produce lower, making them more competitive on the international market. This is also the logic of making healthcare a public commons run
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specialist. His task was to identify the payment capacity of
Argentina, Brazil, and Chile. Based on export earnings and other international payment data, Hudson had to determine the income the bank could derive from the debt that these countries had accumulated. He recalled that, "I soon found that
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or Clean Slates had the purpose of making workers more productive—and happier—thereby improving the economy. Hudson stated: "In the early 1990s I tried to write my own summary, but was unable to convince publishers the Near
Eastern tradition of Biblical debt cancellations was firmly grounded. Two
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in particular, serves rentiers and financiers and has developed a special language designed to reinforce the impression that there is no alternative to the status quo. In a false theory, the parasitic encumbrances of a real economy, instead of being deducted in accounting, add up as an addition to
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ideology requires totalitarian control of the school and university system, totalitarian control of the press and control of the police where intellectual resistance survives against the idea that economic planning should become much more centralized, but moved out of the hands of government into
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Hudson states parasitic non-productive, rent-seeking finance looks at industry and labor to determine how much wealth it can extract by fees, interest and tax breaks. Rather than invest capital into increasing production and efficiency where the market demands it, wealth accumulated is made into
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so the United States itself is not exposed to, thanks to dollar dominance. Dollar
Diplomacy leads to subjecting other countries to unfair trade and investment intending to strip foreign assets and natural resources. This includes privatizing infrastructure, preferably buying it at distressed
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The natural stability of a national state depends on having as many free, independent workers doing productive things. The rise of personal debt, past a certain low threshold, begins to reduce worker productivity—even if it makes the elite financial class wealthier. The proclamations of
1013:, Marx discusses the tendency of productivity and supply to increase at a faster pace than the consumption power and demand. Marx also revised his earlier ideas as he studied and learned more about the asymmetric development of capitalism. This ultimately led him to soften his
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Hudson also argues Marx was too optimistic. History did not go in the direction of
Capitalism evolving into Socialism—at least not yet. Since the 1930s today's modern capitalism is dominated by non-productive rentier classes. In classical economics, which includes Marx, the
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is different from some other
Marxists’. For example, Stalin’s popularization of volume one of Capital to say, capitalism is an exploitation of workers by their employers. All that indeed was in volume one, but Marx wrote volume two and three all about finance and rent seeking.
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sacrifice labor and industry for the benefit of the finance sector. According to Hudson, bankers and rentiers as early as 1880s started to search ways to rationalize untaxing and deregulating finance, real estate and monopolies. They succeeded in the 1980s with establishing a
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prices. Parasitic finance techniques (including Western-style tax breaks) are used to extract the maximum amount of the country's surplus and cripple it as an economic competitor to the US, rather than providing fairness and promoting each nation's self-sufficiency.
792:. Foreign central banks could sell the excess dollars on the exchange market which would strengthen their currency. Yet he calls this a dilemma as it decreases their ability to continue a trade surplus even though it also increases their purchasing power.
707:, Europeans began to buy US government securities, thereby shifting their gold and foreign exchange reserves to US banks. From 1934, US gold and foreign exchange reserves increased from $ 7.4 billion to $ 20.1 billion in 1945. After the creation of the
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and are presented as productive. Hudson sees consumer protection, state support of infrastructure projects, and taxation of rentier sectors of the economy rather than workers, as a continuation of the line of classical economists today.
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Non-productive rents, tactics and strategies are making all countries, the US included, less self-sufficient. This connects back with the idea of a debt jubilee; and, with taxing non-productive activity, not workers and manufacturing.
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My father was a labor leader. He was sent to jail 75 years ago under the Smith Act for advocating the overthrow of the government through force and violence. The Attorney General later wrote it was the only thing he was ashamed of
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goods and services, foreign countries were forced to hold an equal amount of US treasuries. This drove down US interest rates, which drove down the dollar's foreign exchange rate, making US goods more competitive overseas.
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Hudson stresses world success of neoliberal Dollar Diplomacy and financialization is closely connected with its educational support in all big universities. He cites the story of Chile. One of the first acts of the
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Hudson left his job at the bank to complete his doctoral dissertation. His thesis was about US economic and technological thought in the 19th century. He defended it in 1968 and in 1975 published it under the title
674:. As of 2020, Hudson was the director of the Institute for the Study of Long-Term economic Trends (ISLET) and the Distinguished Research Professor of Economics at the University of Missouri–Kansas City.
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1/12th for Rome. Money originated in book-keeping, not metals or barter or coinage. Ideas about land ownership, mortgages, rents, and wages originated in this context and were determined by it.
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1581:"1968 magazine article shows how control of gold is main mechanism of imperial power | Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market"
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in which the state does not realize the interests of any group other than itself. It is itself wholly and entirely aimed at colonializing other states, making them into client states by
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decades ago economic historians and even many Biblical scholars thought the Jubilee Year was merely a literary creation, a utopian escape from practical reality. I encountered a wall of
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Hudson devoted his first works to the problem of the gold and foreign exchange reserves and the US foreign economic debt, a subject his mentor Terence McCarthy (the translator to Marx's
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Rather than extracting taxes from the rentiers to reduce the cost of labor and assets and use the tax revenue to improve infrastructure to increase production efficiency, he states the
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608:—foreign trade and investment—was exactly in balance, year after year, and "foreign aid" actually produced a dollar surplus (as it was required to do under U.S. law)." However, the
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permanent debt servitude, in order to preserve social balance, and to ensure a sturdy agrarian class of freedmen to serve in the army. This was one of the primary goals of
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and history. In 1959, Hudson graduated from the University of Chicago with a bachelor's degree. After graduation, he worked as an assistant to Jeremy Kaplan at the
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Compounding interest naturally results in increasing the size of debt which eventually demand more wealth be extracted than production and labor are able to pay.
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585:. According to Hudson, this work gave him invaluable understanding of how banks and the financial sector work and how bank accounting correlates with real life.
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neither interesting nor profitable. Hudson, who had studied music from his childhood, moved to New York in 1960 in hopes of becoming a pupil of the conductor
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economics. A decade later, he was a founding member of the International Scholars Conference on Ancient Near Eastern Economies, an international group of
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Trade, Development and Foreign Debt, Volume II, International Finance: A History of Theories of Polarisation and Convergence in the International Economy
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was evident only in the military sphere: "My charts revealed that the U.S. payments deficit was entirely military in character throughout the 1960s. The
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The Neglected American Economists: Economics and Technology in 19th Century American Thought. A collection of 46 important works printed in 42 volumes
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Hudson, Michael: Finance Capitalism versus Industrial Capitalism: The Rentier Resurgence and Takeover, Sage Jornals , Vol. 53 Issue 4, July 2, 2021
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Trade, Development and Foreign Debt, Volume I, International Trade: A History of Theories of Polarisation and Convergence in the International Economy
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program waged throughout Latin America and spread to political assassination in the United States itself. What the Chicago Boys recognized is that
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699:) had previously dealt with in detail. In his first article titled "Sieve of Gold", Hudson analyzed the negative economic consequences of the
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of which Hudson is an adherent, is gaining traction by showing the falseness of the neoliberal conceiving of economics as purely mathematics.
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stronghold. The junta then closed down every social science department and fired, exiled or murdered critics of its ideology in the terrorist
857:(c. 1729–1686 b.c.). Such debt amnesties were not destabilizing. They were essential to preserving long-term social and economic stability.
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in the Finance, Insurance and Real Estate (FIRE) sector. There was only one way to learn how to analyze these topics: to work for banks."
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for advocating the overthrow of the government through force and violence," according to Hudson. He had been one of the leaders of the
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countries in economic sectors where the United States was afraid of emerging competition. At the same time, the US imposed so-called
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from the real economy are disastrous for both the government and the people of the borrowing state as they wash money (payments to
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The cost of doing nothing is high. Left to run wild, the ever-growing need for debt and rents causes history to regress back to a
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exchange rates and expect repayment of the resulting loans even as industry shifts from the United States to creditor nations.
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he relaxes his assumptions and discovers other contradictions much closer to what can be observed in today's economic system.
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used in the US after the war mixed the balance of individuals and state payments into a single balance, which concealed the
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451:, and wrote articles for other trade union publications. When Hudson was three years old, his father was jailed "under the
337:(1969–72) and worked for various governmental and non-governmental organizations as an economic consultant (1980s–1990s).
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system; where, your employer pays for your healthcare, provides you your housing and keeps workers in debt permanently.
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Washington consensus that states "everyone is worth what they get" so there is no "unearned increment" to be untaxed.
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1927:(Peabody Museum Bulletin 7 ed.). Cambridge MA: Peabody Museum of Archaeology and Ethnology Harvard University.
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1515:"Debt and economic renewal in the ancient Near East : a colloquium held at Columbia University, November 1998"
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Urbanization and Land Ownership in the Ancient Near East, Volume II; Edited by Michael Hudson and Baruch A. Levine
521:. MacFadyen had introduced Hudson to Terence McCarthy who was an Irish communist and was the translator of Marx’s
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2109:… and forgive them their debts: Lending, Foreclosure and Redemption – From Bronze Age Finance to the Jubilee Year
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761:. All American foreign politics (including tied aid and debts) were aimed at restraining the self-sufficient
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loans, at compound interest. In this way, a nation's debt can grow faster than its real goods production.
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Super Imperialism Walter E. Williams New Edition: The Origin and Fundamentals of U.S. World Dominance
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at the thought the practice was attested to in increasingly detailed Clean Slate proclamations".
616:. Hudson proposed dividing US balance of payments figures into governmental and private sectors.
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America's Protectionist Takeoff, 1815–1914, The Neglected American School of Political Economy
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Economics and Technology in 19th-Century American Thought - The Neglected American Economists.
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America's Protectionist Takeoff, 1815-1914: The Neglected American School of Political Economy
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in Chicago. He managed to obtain the rights to the English language editions of the works of
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Economics and Technology in 19th Century American Thought: The Neglected American Economists
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From the beginning of the 2000s, Hudson pays special attention to the issues of inflating
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The President and Fellows of Harvard College; Hudson, Michael; Levine, Baruch A. (1999).
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Hudson views foreign central banks buying treasuries as a legitimate effort to stabilize
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inflows available to extract as interest on new loans or bond issues. In fact, there was
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The Collapse of Antiquity: Greece and Rome as Civilization's Oligarchic Turning Point
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The Collapse of Antiquity: Greece and Rome as Civilization's Oligarchic Turning Point
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Super Imperialism – New Edition: The Origin and Fundamentals of U.S. World Dominance
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Contemporary Authors: A Bio-Bibliographical Guide to Current Authors and Their Works
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The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism
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1324:. Edited by Clare D. Kinsman. Detroit, Michigan: Gale Research. Vol. 33–36. p. 456.
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The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism
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376:) from turnover, not leaving them funds to buy goods and services, thus leading to
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blood. His father, Nathaniel Carlos Hudson (1908–2003), received an MBA from the
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analyst, political consultant, commentator and journalist. He is a contributor to
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blocks revolutionary tendencies among the working classes of dominating nations.
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A Financial Payments-Flow Analysis of U.S. International Transactions, 1960-1968
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A Financial Payments-Flow Analysis of U.S. International Transactions, 1960-1968
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In 1964, just after Hudson received his master's degree in economics, he joined
54:. Contentious material about living persons that is unsourced or poorly sourced
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not-for-profit by the government. This enables wages to be lower for workers.
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Hudson received his primary and secondary education in a private school at the
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1641:""CREATING WEALTH" THROUGH DEBT: The West's Finance-Capitalist Road"
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757:, Hudson stressed the aid systems, World Bank and IMF formed after the end of
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1369:""The Bible is all about economics": A Conversation with Dr. Michael Hudson"
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and labour-capital dichotomy as its underlying contradiction. However, in
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Temples of Enterprise: Creating Economic Order in the Bronze Age Near East
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Temples of Enterprise: Creating Economic Order in the Bronze Age Near East
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was to close down every economics department in the nation outside of the
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The Ancient Orient: An Introduction to the Study of the Ancient Near East
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Hudson has appeared in several documentaries, including the following:
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532:. His master's thesis was devoted to the development philosophy of the
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420:. Hudson is a fifth-generation American as on his maternal line he has
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1709:"The Paradox of Financialized Industrialization | Michael Hudson"
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and archaeologists who analyzed the economic origins of civilization.
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Global Fracture: The New International Economic order, Second Edition
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Trade, Development and Foreign Debt, Volume II, International Finance
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Global Fracture: The New International Economic order, Second Edition
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314:, a weekly economic and financial news podcast produced by Left Out.
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1135:(2018), Dresden: ISLET-Verlag Dresden. (hard bound), (soft cover)
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J is For Junk Economics: A Guide to Reality in an Age of Deception
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J is For Junk Economics: A Guide to Reality in an Age of Deception
1679:"Understanding America's Post-Industrial Economy; Michael Hudson"
1601:(interviewer); Michael Hudson (interviewee) (December 16, 2018).
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Hudson is the author of several books, among them the following:
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In the mid-1990s, Hudson became a professor of economics at the
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countries I analyzed were fully 'loaned up'. There were no more
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2010:(New ed.). New York and London: Garland Publishing, Inc.
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Super Imperialism: The Economic Strategy of American Empire
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Super Imperialism: The Economic Strategy of American Empire
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of 2007-08, Hudson predicted a crash of US housing prices.
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of 2007-08, Hudson predicted a crash of US housing prices.
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A philosophy for a fair society (Georgist Paradigm Series)
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A philosophy for a fair society (Georgist Paradigm Series)
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333:(1964–68). He was assistant professor of economics at the
1780:"New $ 600B Fed Stimulus Fuels Fears of US Currency War"
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Urbanization and Land Ownership in the Ancient Near East
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In 1961, Hudson enrolled in the Economics Department of
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are sold at their values. That is how Marx deduces the
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military junta overthrew the Allende government in 1973
380:. Hudson notes that the existing economic theory, the
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Global Fracture: The New International Economic order
1395:"Bubbles Always Burst: the Education of an Economist"
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Global Fracture: The New International Economic order
986:, Marx assumes there is a rent-free market where all
1629:. Grand Rapids: Eerdmans, 1994; trans. D. G. Schley.
803:has encouraged the International Monetary Fund and
581:and the tracking of "dirty" money that ended up in
482:as well as the rights to the archives and works of
634:United Nations Institute for Training and Research
1105:(2010), enlarged, revised and updated version of
3791:
1477:Whitney, Michael Hudson-Mike (August 29, 2008).
1442:"The Use and Abuse of MMT | Michael Hudson"
1413:"Michael Hudson | The Modern Money Network"
1204:The Secret of Oz: Solutions for a broken Economy
815:
733:, which traced the history of the formation of
340:Hudson has devoted his career to the study of
2941:
2430:
1857:Trade, Development and Foreign Debt, Volume 1
1521:
1460:"The Fed Sinks The Dollar By Michael Hudson"
861:Domestic debts and debt deflation of economy
2229:"The Spider's Web: Britain's Second Empire"
1887:(Paperback ed.). London: Pluto Press.
1604:On Contact: The history of debt forgiveness
1547:
1085:Peabody Museum of Archaeology and Ethnology
940:Position on Karl Marx and Marxian economics
596:In 1968, Hudson joined the accounting firm
501:, but these plans were not to be realized.
411:
3895:University of Missouri–Kansas City faculty
2948:
2934:
2437:
2423:
1517:. Bethesda, Md.: CDL Press. March 9, 2002.
1479:"How the Chicago Boys Wrecked the Economy"
144:
1697:https://doi.org/10.1177/04866134211011770
1167:The Spider's Web: Britain's Second Empire
573:." Also at the bank, Hudson analyzed the
122:Learn how and when to remove this message
1719:
1200:(2011), by Mathieu Roy and Harold Crooks
464:University of Chicago Laboratory Schools
1912:(paperback ed.). Shepheard-Walwyn.
1476:
1388:
1386:
1336:
1334:
1332:
1330:
632:. In 1979, he became an advisor to the
505:Study of economics and working at banks
466:. After his graduation, he entered the
3792:
2199:
2171:
2146:
2105:
2080:
2055:
2030:
2005:
1976:
1947:
1907:
1880:
1853:
1824:
1795:
1765:
1638:
1393:Hudson, Michael (September 28, 2015).
1392:
1366:
1342:"Life & Thought: An Autobiography"
1301:
1297:
1295:
753:. Continuing the position outlined in
556:'s economics research department as a
416:Hudson was born on March 14, 1939, in
325:(MA, 1965, PhD, 1968) and worked as a
2929:
2418:
1860:(1st ed.). London: Pluto Press.
1752:"Der Krieg der Banken gegen das Volk"
1367:Center, Kairos (September 25, 2017).
1266:
1017:tone as he realized how dominance of
286:(born March 14, 1939) is an American
3311:New international division of labour
1383:
1327:
486:after the death of Trotsky's widow,
20:
1745:
1657:10.13169/worlrevipoliecon.10.2.0171
1310:. May 2006 – via harpers.org.
1292:
515:Centre for Investigative Journalism
509:Hudson's childhood best friend was
13:
664:University of Missouri–Kansas City
296:University of Missouri–Kansas City
211:University of Missouri–Kansas City
14:
3916:
3820:American male non-fiction writers
2955:
2399:
1645:World Review of Political Economy
1639:Hudson, Michael (June 22, 2019).
1241:
992:exploitative nature of capitalism
545:and the rising share absorbed by
3850:International finance economists
3805:21st-century American economists
3772:
3762:
3761:
2972:
2373:"Plunder: The Crime of our Time"
2331:"Who's Who - Surviving Progress"
1157:
690:
537:of debt, and how the pattern of
25:
2973:
2380:
2366:
2348:
2323:
2298:
2272:
2247:
2221:
2193:
2165:
2140:
2099:
2074:
2049:
2024:
1999:
1970:
1941:
1916:
1901:
1874:
1847:
1818:
1789:
1786:Video. Retrieved April 7, 2021.
1701:
1689:
1671:
1632:
1619:
1591:
1573:
1507:
1489:
1470:
1452:
1434:
1302:Hudson, Michael (May 1, 2006).
944:Hudson identifies himself as a
849:(2011) drew on Hudson's ideas.
525:. McCarthy became his mentor.
71:"Michael Hudson" economist
2444:
1977:Hudson, Michael (April 2005).
1948:Hudson, Michael (March 2003).
1825:Hudson, Michael (March 1979).
1756:Frankfurter Allgemeine Zeitung
1423:
1405:
1360:
1314:
1210:Plunder: The Crime of Our Time
741:. In Hudson's interpretation,
432:struck. His father joined the
335:New School for Social Research
1:
2031:Hudson, Michael (July 2012).
1758:. Retrieved December 7, 2011
1607:(Video). New York: RT America
1234:
1079:(1999), edited by Hudson and
1019:industrially advanced nations
816:Debt in the ancient Near East
624:In 1972, Hudson moved to the
52:secondary or tertiary sources
3890:University of Chicago alumni
3835:American economic historians
2376:PlunderTheCrimeofourTime.com
2280:"Film: Real Estate 4 Ransom"
948:, but his interpretation of
677:In an April 2006 article in
406:
393:In an April 2006 article in
58:, especially if potentially
36:biography of a living person
7:
3900:Writers about globalization
3029:Environmental globalization
3004:Anti-globalization movement
1501:The Democracy Collaborative
1222:
855:Hammurabi's famous law code
846:Debt: The First 5,000 Years
713:International Monetary Fund
457:Minneapolis general strikes
436:struggle, became an active
56:must be removed immediately
10:
3921:
3865:New York University alumni
3815:American economics writers
3177:Offshore financial centres
2255:"Icarus Films: Capitalism"
1802:Holt, Rinehart and Winston
729:In 1972, Hudson published
543:national income accounting
470:with two majors: Germanic
317:Hudson graduated from the
3880:Post-Keynesian economists
3757:
3715:
3590:
3525:
3442:
3433:
3360:
3197:
3118:
3111:
2991:
2963:
2899:
2736:
2588:
2470:
2454:
2235:. Internet Movie Database
2119:. Dresden: ISLET Verlag.
1304:"The new road to serfdom"
1169:(2017), by Michael Oswald
697:Theories of Surplus Value
619:
541:inflates land prices, or
523:Theories of Surplus Value
493:Hudson found work at the
267:
263:
228:
216:
206:
201:
197:
189:
181:
152:
143:
136:
3855:American macroeconomists
3019:Democratic globalization
2147:Hudson, Michael (2022).
2106:Hudson, Michael (2018).
2081:Hudson, Michael (2017).
2056:Hudson, Michael (2015).
2006:Hudson, Michael (2010).
1908:Hudson, Michael (1994).
1881:Hudson, Michael (1992).
1854:Hudson, Michael (1992).
1796:Hudson, Michael (1972).
1667:– via go.gale.com.
1320:Hudson, Michael (1973).
1229:Post-Keynesian economics
1206:(2009), by William Still
1033:
1028:
885:United States tax system
668:Levy Economics Institute
651:as a research fellow in
449:The Industrial Organizer
412:Early life and education
300:Levy Economics Institute
298:and a researcher at the
3301:Investor-state disputes
3254:Illicit financial flows
3098:Political globalization
3046:Global financial system
2806:Stephany Griffith-Jones
956:Further, Hudson wrote,
639:In 1984, Hudson joined
426:University of Minnesota
3885:The New School faculty
3875:Educators from Chicago
3870:American Ojibwe people
3642:Christopher Chase-Dunn
3410:Primitive accumulation
3093:Military globalization
3024:Economic globalization
3009:Cultural globalization
2618:John Kenneth Galbraith
1529:"Michael Hudson-About"
1417:modernmoneynetwork.org
1023:underdeveloped nations
934:Modern Monetary Theory
428:in 1929, the year the
387:gross domestic product
50:Please help by adding
2335:SurvivingProgress.com
2033:The Bubble and Beyond
1112:The Bubble and Beyond
918:University of Chicago
790:currency manipulation
602:United States deficit
468:University of Chicago
319:University of Chicago
236:University of Chicago
3905:Socialist economists
3830:Classical economists
3825:Bard College faculty
3707:Immanuel Wallerstein
3368:Capital accumulation
3234:Endangered languages
2708:Pavlina R. Tcherneva
1778:(November 5, 2010).
1685:. November 21, 2023.
1625:Von Soden, Wolfram.
1181:(2012), by Grant Kot
1179:Real Estate 4 Ransom
1051:(1973), a sequel to
837:cognitive dissonance
801:Washington Consensus
775:developing countries
763:economic development
735:American imperialism
709:Bretton Woods system
666:and a fellow at the
554:Chase Manhattan Bank
499:Dimitris Mitropoulos
459:from 1934 to 1936.
331:Chase Manhattan Bank
3840:Georgist economists
3779:Business portal
3338:Transnational crime
3244:Forced displacement
3229:Economic inequality
3103:Trade globalization
2999:Alter-globalization
2913:Keynesian economics
2462:John Maynard Keynes
1754:(December 3, 2011).
1715:. October 16, 2015.
1535:. February 25, 2008
1464:countercurrents.org
1175:(2015), by Ilan Ziv
1011:Capital, Volume III
1003:Capital, Volume III
914:Catholic University
908:in Chile after the
893:quantitative easing
575:balance of payments
558:balance of payments
530:New York University
445:Northwest Organizer
327:balance of payments
323:New York University
246:New York University
223:Classical economics
39:relies too much on
3860:Marxian economists
3552:Andre Gunder Frank
3326:Race to the bottom
3316:North–South divide
3034:Global citizenship
2613:James K. Galbraith
2550:Arthur Melvin Okun
2387:"In Debt We Trust"
2362:. August 31, 2010.
2356:"The Secret of Oz"
2284:Michael-Hudson.com
1713:michael-hudson.com
1683:michael-hudson.com
1561:. January 14, 2022
1446:michael-hudson.com
1197:Surviving Progress
997:Capital, Volume II
867:fictitious capital
683:, just before the
399:, just before the
16:American economist
3787:
3786:
3753:
3752:
3612:K. Anthony Appiah
3607:Daniele Archibugi
3356:
3355:
3145:COVID-19 pandemic
3051:Global governance
2923:
2922:
2811:Nobuhiro Kiyotaki
2756:Olivier Blanchard
2713:Anthony Thirlwall
2540:Franco Modigliani
2490:James Duesenberry
2391:Indebtwetrust.com
2306:"Cast & Crew"
2042:978-3-9814-8420-5
2017:978-3-9808466-8-4
1992:978-0-7453-2394-7
1963:978-0-7453-1989-6
1840:978-0-7453-2395-4
1811:978-0-03-085996-0
1448:. April 11, 2020.
1308:Harper's Magazine
1053:Super Imperialism
984:Capital, Volume I
946:Marxist economist
743:super-imperialism
737:after the end of
731:Super Imperialism
610:accounting system
358:interest payments
312:The Hudson Report
281:
280:
190:Years active
132:
131:
124:
106:
3912:
3845:Hudson Institute
3777:
3776:
3765:
3764:
3718:
3627:Jean Baudrillard
3595:
3542:Giovanni Arrighi
3530:
3487:Branko Milanović
3467:Jagdish Bhagwati
3445:
3440:
3439:
3331:pollution havens
3296:Invasive species
3200:
3121:
3116:
3115:
3066:Global workforce
2976:
2975:
2950:
2943:
2936:
2927:
2926:
2911:
2886:Michael Woodford
2876:Lawrence Summers
2831:Maurice Obstfeld
2801:Robert J. Gordon
2723:Sidney Weintraub
2703:G. L. S. Shackle
2439:
2432:
2425:
2416:
2415:
2411:
2410:
2408:Official website
2393:
2384:
2378:
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2364:
2363:
2352:
2346:
2345:
2343:
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2321:
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2316:
2310:FourHorsemen.com
2302:
2296:
2295:
2293:
2291:
2286:. March 15, 2012
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2144:
2138:
2137:
2135:
2133:
2118:
2103:
2097:
2096:
2078:
2072:
2071:
2058:Killing the Host
2053:
2047:
2046:
2028:
2022:
2021:
2003:
1997:
1996:
1974:
1968:
1967:
1945:
1939:
1938:
1920:
1914:
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1905:
1899:
1898:
1878:
1872:
1871:
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1844:
1831:Harper & Row
1822:
1816:
1815:
1793:
1787:
1769:
1763:
1761:
1749:
1743:
1742:
1740:
1738:
1733:. March 28, 2010
1723:
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1716:
1705:
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1668:
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1616:
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1595:
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1566:
1555:"Michael Hudson"
1551:
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1505:
1504:
1497:"Michael Hudson"
1493:
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1438:
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1353:
1348:. August 7, 2018
1338:
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1318:
1312:
1311:
1299:
1290:
1289:
1287:
1285:
1280:. March 15, 2010
1270:
1264:
1263:
1261:
1259:
1245:
1216:In Debt We Trust
1118:Killing the Host
1081:Baruch A. Levine
751:dollar diplomacy
626:Hudson Institute
517:and director of
495:publishing house
443:, editor of the
430:Great Depression
277:
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3771:
3749:
3730:Thomas Friedman
3716:
3711:
3662:Anthony Giddens
3637:Manuel Castells
3602:Arjun Appadurai
3593:
3591:
3586:
3528:
3526:
3521:
3517:Joseph Stiglitz
3457:Richard Baldwin
3443:
3435:
3429:
3388:Fiscal localism
3352:
3306:McDonaldization
3224:Development aid
3198:
3193:
3162:Multilingualism
3157:Labor arbitrage
3133:Climate justice
3119:
3107:
3061:Global politics
3014:Deglobalization
2987:
2959:
2954:
2924:
2919:
2918:
2917:
2916:
2915:
2908:
2895:
2871:Joseph Stiglitz
2866:Andrei Shleifer
2856:Julio Rotemberg
2786:Stanley Fischer
2771:Richard Clarida
2766:Guillermo Calvo
2732:
2728:L. Randall Wray
2718:William Vickrey
2693:Steven Pressman
2648:Nicholas Kaldor
2628:Myron J. Gordon
2590:Post-Keynesians
2584:
2500:Trygve Haavelmo
2466:
2450:
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2259:IcarusFilms.com
2253:
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2248:
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2227:
2226:
2222:
2215:
2201:Hudson, Michael
2198:
2194:
2187:
2173:Hudson, Michael
2170:
2166:
2159:
2145:
2141:
2131:
2129:
2127:
2115:Tyranny of Debt
2112:
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2100:
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1237:
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1036:
1031:
942:
863:
818:
693:
685:Great Recession
647:faculty at the
622:
598:Arthur Andersen
579:US oil industry
547:rent extraction
511:Gavin MacFadyen
507:
414:
409:
401:Great Recession
321:(BA, 1959) and
290:, Professor of
271:
259:
229:Alma mater
218:
202:Academic career
177:
176:, United States
167:
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45:primary sources
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3639:
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3632:Zygmunt Bauman
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3520:
3519:
3514:
3509:
3504:
3499:
3497:Thomas Piketty
3494:
3492:Kevin O'Rourke
3489:
3484:
3482:Michael Hudson
3479:
3474:
3472:Robert Brenner
3469:
3464:
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3343:Westernization
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3186:
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3182:Tax inversions
3179:
3169:
3164:
3159:
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3152:Digital divide
3149:
3148:
3147:
3137:
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3135:
3128:Climate change
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2907:
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2901:
2897:
2896:
2894:
2893:
2888:
2883:
2881:John B. Taylor
2878:
2873:
2868:
2863:
2861:Robert Shiller
2858:
2853:
2848:
2846:Kenneth Rogoff
2843:
2838:
2833:
2828:
2823:
2818:
2813:
2808:
2803:
2798:
2793:
2788:
2783:
2778:
2773:
2768:
2763:
2758:
2753:
2748:
2746:George Akerlof
2742:
2740:
2738:New Keynesians
2734:
2733:
2731:
2730:
2725:
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788:rather than a
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745:is a stage of
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3740:John R. Saul
3725:Noam Chomsky
3717:Non–academic
3657:Susan George
3652:Nancy Fraser
3622:Walden Bello
3567:David Harvey
3557:Stephen Gill
3481:
3477:Jayati Ghosh
3383:Earth system
3249:Human rights
3189:Water crisis
3086:early modern
2891:Janet Yellen
2841:Ricardo Reis
2816:Paul Krugman
2796:Mark Gertler
2761:Alan Blinder
2751:Ben Bernanke
2678:Hyman Minsky
2643:Richard Kahn
2637:
2623:Wynne Godley
2575:Robert Solow
2555:Don Patinkin
2505:Alvin Hansen
2390:
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2338:. Retrieved
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2132:December 24,
2130:. Retrieved
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1609:. Retrieved
1603:
1599:Chris Hedges
1593:
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1565:December 19,
1563:. Retrieved
1558:
1549:
1539:December 24,
1537:. Retrieved
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1491:
1483:CounterPunch
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1399:CounterPunch
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1282:. Retrieved
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1258:December 24,
1256:. Retrieved
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705:Adolf Hitler
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672:Bard College
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484:Leon Trotsky
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304:Bard College
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38:
18:
3800:1939 births
3735:Naomi Klein
3617:Ulrich Beck
3592:Politics /
3582:Robert Wade
3572:Ronen Palan
3562:Peter Gowan
3512:Amartya Sen
3502:Dani Rodrik
3452:David Autor
3378:Development
3259:Imperialism
3207:Brain drain
2851:David Romer
2826:Marc Melitz
2821:Greg Mankiw
2776:Brad DeLong
2688:Basil Moore
2668:Marc Lavoie
2608:Evsey Domar
2580:James Tobin
2530:James Meade
2360:Archive.org
2315:December 7,
2264:November 5,
1983:Pluto Press
1954:Pluto Press
1772:Amy Goodman
1760:(in German)
1274:"Biography"
1189:(2012), by
988:commodities
965:proletariat
929:free market
767:Third World
747:imperialism
739:World War I
701:Vietnam War
645:archaeology
630:Herman Kahn
583:Swiss banks
434:trade union
418:Minneapolis
308:Wall Street
207:Institution
182:Nationality
170:Minneapolis
62:or harmful.
3794:Categories
3677:Paul Hirst
3672:David Held
3537:Samir Amin
3527:Political
3462:Ravi Batra
3403:history of
3398:ecological
3373:Dependency
3321:Offshoring
3284:scientific
3274:linguistic
3239:Fair trade
3219:Care drain
3172:Tax havens
3167:Population
3076:History of
2791:Jordi GalĂ
2663:Jan Kregel
2658:Steve Keen
2520:John Hicks
2510:Roy Harrod
2447:Keynesians
1249:"Left Out"
1235:References
1173:Capitalism
977:neo-feudal
921:monetarist
898:neoliberal
823:Bronze Age
807:to impose
805:World Bank
771:free trade
653:Babylonian
636:(UNITAR).
628:headed by
534:World Bank
476:Free Press
438:Trotskyist
159:1939-03-14
82:newspapers
41:references
3702:John Urry
3594:sociology
3444:Economics
3348:World war
3071:Globality
3039:education
2781:Huw Dixon
2207:. Islet.
2179:. Islet.
2151:. Islet.
2085:. ISLET.
2060:. ISLET.
2035:. ISLET.
1665:213052068
950:Karl Marx
809:austerity
519:WikiLeaks
472:philology
453:Smith Act
407:Biography
354:mortgages
306:, former
292:Economics
288:economist
219:tradition
174:Minnesota
3767:Category
3436:scholars
3361:Theories
3269:cultural
3264:academic
2968:Journals
2340:June 27,
2290:June 27,
2239:June 27,
2233:IMDb.com
2203:(2024).
2175:(2023).
1737:April 7,
1611:April 7,
1585:gata.org
1352:April 7,
1284:April 7,
1223:See also
843:'s book
832:Jubilees
680:Harper's
396:Harper's
374:rentiers
185:American
112:May 2022
60:libelous
3529:economy
3434:Notable
3212:reverse
3140:Disease
3081:archaic
2992:Aspects
2983:Studies
2978:Outline
2900:Related
2455:Founder
1727:"Books"
1253:Patreon
1093:(2003),
1073:(1994).
1067:(1992).
1061:(1992).
641:Harvard
577:of the
370:usurers
366:profits
360:), and
344:, both
294:at the
268:Website
96:scholar
3289:social
3120:Global
3112:Issues
2211:
2183:
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2064:
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2014:
1989:
1960:
1931:
1891:
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1378:doing.
1218:(2006)
1212:(2009)
1153:(2024)
1147:(2023)
1141:(2022)
1126:(2017)
1120:(2015)
1114:(2012)
1045:(1972)
620:Career
422:Ojibwe
98:
91:
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69:
3279:media
3199:Other
1661:S2CID
1034:Books
1029:Works
1021:over
711:, an
350:loans
103:JSTOR
89:books
34:This
2342:2022
2317:2011
2292:2022
2266:2021
2241:2022
2209:ISBN
2181:ISBN
2153:ISBN
2134:2020
2121:ISBN
2087:ISBN
2062:ISBN
2037:ISBN
2012:ISBN
1987:ISBN
1958:ISBN
1929:ISBN
1889:ISBN
1862:ISBN
1835:ISBN
1806:ISBN
1774:and
1739:2021
1613:2021
1567:2023
1541:2020
1354:2021
1286:2021
1260:2020
1000:and
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891:and
561:the
447:and
385:the
372:and
342:debt
275:.com
153:Born
75:news
1653:doi
1009:In
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765:of
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