Welcome to the Shepheard-Walwyn Podcast and a two-part interview with Michael Hudson, perhaps the world’s most influential (but rarely acknowledged) economist. Michael has had a remarkable career starting off as a practical or reality-based economist working for a variety of institutions looking at how banks really behave. He looked at the balance of payments economics for David Rockefeller at Chase Manhattan Bank; worked for Herman Kahn at the Hudson Institute, and advised the US State Department on how they could fund the Vietnam War when the gold was running out. He now advises the Chinese Government on how to maintain an industrial economy and avoid the traps the US Finance economy has fallen into.
Michael’s most famous work is Super Imperialism, the Economic Strategy of American Empire but has also written extensively on ancient economies in the Near East. He is one of our longest running writers having co-written the soon to be re-released eBook, A Philosophy for a Fair Society with Kris Feder and the late GJ Miller and. Incidentally, this book is a great introduction to his whole body of work so do check it out!
In this first episode we looked at how economics got corrupted from industrial economics where people made money by making things, to a finance economy where a small elite group makes money by manipulating financial instruments. There are some meaty topics but I promise it’s worth your time.