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Michael Hudson's "TED TALK" on Economics

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In this video and transcript of an interview of Hudson by Ross Ashcroft on Renegade, Inc., Hudson explains the difference between Neoliberal economics and Classical economics. There is much meat in this piece. 

Example:

'Greenspan knew who paid him. When I worked on Wall Street in the 1960s, banks were afraid to hire him because he was known for saying whatever the client wanted to be said. So he’s a public relations person. And the fact is that’s what passes for the economics taught in the universities these days. It’s public relations for the financial interests and the corporate sector. ”

And,

'Wall Street consolidated its rule under President Obama after the 2008 bank-fraud crisis. At issue was who was going to be saved: the banks, or the economy? Obama’s answer was to save his constituency: the bankers and bondholders.' 

Read the rest of the story HERE:

At michael-hudson.com

 

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I am a retired physicist and hold a B.S. in Ch. E. as well. I have been an environmental activist since the early 1970s. I was a founding member of the Save Barton Creek Association in Austin, TX. In 2006 I was a member of a select committee (more...)
 

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