If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way… — Michael Hudson Copy Share Image
The concept of productivity in America is income divided by labor. So if you're Goldman Sachs and you pay yourself $20 million… — Michael Hudson Copy Share Image
The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's… — Michael Hudson Copy Share Image
If you increase living standards, you make labor more productive. This is why Asia today is becoming more productive than the United… — Michael Hudson Copy Share Image
If the economy is growing, people want to employ more workers. If you hire more labor, wages go up. — Michael Hudson Copy Share Image
When we say "people worry" about inflation, it's mainly bondholders that worry. The labor force benefitted from the inflation of the '50s,… — Michael Hudson Copy Share Image
Most people think of the economy as producing goods and services and paying labor to buy what it produces. But a growing… — 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
![“The most serious problems lie in the financial sphere, where the economy's debt overhead has grown more rapidly than the 'real' economy's ability to carry this debt. [...] The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real…” quote by Michael Hudson](https://sms4smile.com/quotes/img-quotes/843/michael-hudson-2134_ability_the-most-serious-problems-lie-in-the-fin_1562200.jpg)
