When economists speak of money, they neglect that all money and credit is debt. That is the essence of bookkeeping and accounting.… — Michael Hudson Copy Share Image
Most of these charges that people pay are economically unnecessary. There's no real cost behind them. There's no real value behind them.… — Michael Hudson Copy Share Image
Economists often define their discipline as "the allocation of scarce resources among competing ends." But when resources or money really become scarce,… — Michael Hudson Copy Share Image
You'll have to have the governments sell off all of their public domains; sell off their railroads, sell off their public land.… — Michael Hudson Copy Share Image
Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to… — Michael Hudson Copy Share Image
In order to be an economist these days, you have to participate in this fairytale that somehow we can recover and still… — 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
