How bankers became the top exploiters of the economy – an interview with Michael Hudson

A great interview with Professor Michael Hudson, who is very much in the heterodox, non-mainstream camp of economists. The title says it all: how our economies are going in the wrong direction and some thoughts on how to put things right. Well worth a read.

 

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2 thoughts on “How bankers became the top exploiters of the economy – an interview with Michael Hudson

    • Yes it is quite a long interview. The synopsis of his most recent book will give you a flavour

      He draws on classical economics and its concern with the economic surplus and productive versus unproductive labour, as opposed to modern mainstream neoclassical economics which ignores politics and conflict between classes. If a large part of the surplus flows to the financial sector in the form of interest and fees and not into productive investment, then growth and prosperity will suffer and inequality increase to unsustainable levels.

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