When people are running up more and more debt for housing, they call that "real wealth." It exposes what's wrong in the… — Michael Hudson Copy Share Image
Today's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim… — Michael Hudson Copy Share Image
The aim of academic trade theory is to tell students, "Look at the model, not at how nations actually develop." So of… — Michael Hudson Copy Share Image
The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial… — Michael Hudson Copy Share Image
The result of this anti-classical revolution you had just before World War I was that today, almost all the economic growth in… — Michael Hudson Copy Share Image
Oil is a special case. Saudi Arabia is trying to drive U.S. fracking rivals out of business, while also hurting Russia. This… — Michael Hudson Copy Share Image
There are many ways to create economic suicide on a national level. The major way through history has been through indebting the… — Michael Hudson Copy Share Image
One of the big problems in America's economic polarization and shrinkage is that pensions can't be paid. So there are going to… — Michael Hudson Copy Share Image
Economic polarization is also occurring between creditor and debtor nations. This issplitting the eurozone between Germany, France and the Netherlands in the… — Michael Hudson Copy Share Image
You have the economic vocabulary turning into vocabulary of deception. — Michael Hudson Copy Share Image
Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the… — Michael Hudson Copy Share Image
This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in… — Michael Hudson Copy Share Image
Nobody prefers to earn income any more, because that's taxable. Rich people prefer to make capital gains. — Michael Hudson Copy Share Image
Nothing could be better for the economy than to get rid of fracking. — Michael Hudson Copy Share Image
If you end internet neutrality and permit mergers of the big information technology corporations, that's a form of rent seeking. It's part of today's… — Michael Hudson Copy Share Image
Deflation means a slowdown of income growth. Markets shrink, new capital investment and employment also taper off, so wages decline. That is what's happening… — Michael Hudson Copy Share Image
What's bad for the frackers usually is good for the rest of the world. — Michael Hudson Copy Share Image
You could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working class, to… — Michael Hudson Copy Share Image
Actually, high housing prices don't help the economy. They raise the cost of living. — Michael Hudson Copy Share Image
When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting. There are… — Michael Hudson Copy Share Image
The United States and Europe are in a state of debt deflation, where people and businesses have to pay banks instead of spending their… — Michael Hudson Copy Share Image
On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top… — Michael Hudson Copy Share Image
