281 - Michael Hudson: How Debt Destroys Empires

<p>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. This is Michael’s Seventh appearance on the show. On past episodes, including with Richard Wolff, he and Robinson have neoliberalism, industrial capitalism, the rentier economy, Marxism, and the role of economics in political history. In this episode, Michael and Robinson talk about debt and the destruction of empires. Michael’s most recent book is Temples of Enterprise (ISLET, 2024). </p><p><br></p><p>Michael’s Website: <a href="https://michael-hudson.com/">https://michael-hudson.com</a></p><p><br></p><p>Temples of Enterprise: <a href="https://a.co/d/a3c53dm">https://a.co/d/a3c53dm</a></p><p><br></p><p>OUTLINE</p><p>00:00 Keeping Governments Under Control</p><p>07:01 Understanding the Church</p><p>17:27 Why Debts Grow Too Fast to Be Paid</p><p>22:57 Understanding the BRICS</p><p>26:50 How Can Countries Get Rich?</p><p>32:47 Where Is the United States’ Debt Dragging Us?</p><p>46:26 Why Michael Hudson Is Not a Mainstream Economist</p><p>48:59 The Historical Approach to Economics</p><p>01:06:01 Controlling Governments Through Tax Policy</p><p>01:23:55 How Michael Researches</p><p>01:33:31 The Myth of Economic Rent</p><p>01:38:47 The United States’ Hereditary Oligarchy</p><p>01:41:04 Why the United States Can’t Go Bankrupt</p><p>01:44:42 Closing Thoughts</p><p><br></p><p>Robinson Erhardt researches symbolic logic and the foundations of mathematics at Stanford University, where he is also a JD candidate in the Law School.</p>