Last year Gary Cohn, a Goldman Sachs Jewish robber baron who served as Trump's economic advisor, met with a number of CEOs at a Wall Street Journal hosted event meant to promote the "Tax Cuts and Jobs Act." The law cut the corporate tax rate from 35% to 21%. Cohn asked how many in the... Read More

President Trump, every Republican senator, and the GOP majority in Speaker Paul Ryan's House just put the future of their party on the line. By enacting the largest tax cut since the Reagan administration, the heart of which is cutting the corporate rate from 35 to 21 percent, Republicans have boldly bet the farm. They... Read More

I deplore the tax cut that has passed Congress. It is not an economic policy tax cut, and it has nothing whatsoever to do with supply-side economics. The entire purpose is to raise equity prices by providing equity owners with more capital gains and dividends. In other words, it is legislation that makes equity owners... Read More

President Trump and the congressional Republican leadership recently unveiled a tax reform “framework.� The framework has a number of provisions that will lower taxes on middle-class Americans. For example, the framework doubles the standard deduction and increases the child care tax credit. It also eliminates the alternative minimum tax (AMT). Created in the 1960s, the... Read More

An excerpt from a paper published for the conference Paradigm Lost: Rethinking Economics and Politics. I am speaking to this paper in Berlin this week. The full paper can be downloaded from their website (PDF). A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid. Adam Smith remarked that no... Read More

Michael Hudson features in this 40 min documentary on the role property speculation and public finance had on this Great Recession. What role does economics itself have to blame for policy failure? More details

Hudson giving an overview of current affairs with a fired up Lauren Lyster fresh back from Davos.

Michael was recently interviewed on the Renegade Economists following his visit to Medvedev’s Global Policy Forum. Listen here Transcription Karl Fitzgerald: Michael Hudson, our old friend here on the Renegade Economists, from the University of Missouri in Kansas City, has just returned from Russia speaking at the Global Policy Forum. Michael, tell us about the... Read More

The cost of the 2011 cutbacks in federal spending will fall most directly on consumers and retirees by scaling back Social Security, Medicare, Medicaid and social spending programs. The population also will suffer indirectly, by lower federal revenue sharing with U.S. states and cities. The following chart from the National Income and Product Accounts (NIPA,... Read More

Michael is interviewed on the Real News Network. History teaches…

Professor Hudson appeared on the Renegade Economists radio show in Melbourne, Australia last Wednesday. Listen

What would Adam Smith have said about the Bowles-Simpson economic report last week? What a pity the great free marketer was not around to serve on the Deficit Reduction Commission. He not only would have rolled over in his grave, he would have risen up wielding an ax to the fiscal proposals that are diametrically... Read More

This is an edited version of The Coming European Debt Wars. Greece is just the first in a series of European debt bombs about to go off. Mortgage debts in the post-communist economies and Iceland are more explosive. Although most of these countries are not in the eurozone, their debts are largely denominated in euros.... Read More

Latvia is being devastated by two global wars. On the geopolitical front is the Cold War’s coup de grâce. Neoliberals have managed to de-industrialize Russia and the rest of the former Soviet Union, persuading parliaments to dismantle government support for economic renewal. The “Washington Consensus� has backed a policy of giving away public enterprises and... Read More

An Interview with Economist Michael Hudson for Counterpunch By STANDARD SCHAEFER The war in Iraq is allegedly over, interest rates are going lower and there are rumors of recovery although the economy is still in the doldrums. A Bush is president, but an election is around the corner. It sounds a bit like the recession... Read More