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Prof. Hudson speaks on the nature of US financial dominance, the role of World Bank in developing countries, USA's ability to run a huge balance of payment deficit, changes in Russia after the fall of the Soviet Union, the problems of US economy with post-industrialization, and the role of neoclassical economics in all this. He is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of Super-Imperialism: The Economic Strategy of American Empire (Editions 1968, 2003, 2021), ‘and forgive them their debts’ (2018), J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others. 00:00 Highlight 00:55 Introduction 05:34 World Bank 18:51 US & Europe 21:09 US BOP deficit 32:45 Russia after USSR 50:20 US junk economy

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Clara E. Mattei is an Assistant Professor in the Economics Department of The New School for Social Research, and was a 2018-2019 member of the School of Social Sciences at the Institute for Advanced Studies. Her research contributes to the history of capitalism, exploring the critical relation between economic ideas and technocratic policy making. Her forthcoming book "The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism" examines the history of austerity. She presents a paradigm shift in the austerity debate by problematizing the goal of austerity as economist preaches for troubled nations as only way forward. Mattei traces modern austerity to its origins in interwar Britain and Italy, revealing how the threat of working-class power in the years after World War I animated a set of top-down economic policies that elevated owners, smothered workers, and imposed a rigid economic hierarchy across their societies. 00:00 Highlight 01:08 Introduction 03:12 Why austerity? 17:29 Why the WW1? 32:27 Austerity and fascism 58:05 Italy- liberalism or fascism?

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#austerity #capital #inflation

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Richard David Wolff (born April 1, 1942) is an American Marxian economist, known for his work on economic methodology and class analysis. He is professor emeritus of economics at the University of Massachusetts Amherst and a visiting professor in the graduate program in international affairs of the New School. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City. In 1988 Wolff co-founded the journal Rethinking Marxism. In 2010 he published Capitalism Hits the Fan: The Global Economic Meltdown and What to Do About It, also released on DVD. In 2012 he released three new books: Occupy the Economy: Challenging Capitalism, with David Barsamian (San Francisco: City Lights Books), Contending Economic Theories: Neoclassical, Keynesian, and Marxian, with Stephen Resnick (Cambridge, Massachusetts, and London: MIT University Press), and Democracy at Work (Chicago: Haymarket Books). In 2019 he released his book Understanding Marxism @democracyatwrk . Wolff hosts the weekly 30-minute-long program, Economic Update, which is produced by the non-profit Democracy at Work, which he co-founded. Economic Update is on YouTube, FreeSpeech TV, WBAI-FM in New York City (Pacifica Radio), CUNY TV (WNYE-DT3), and available as a podcast. Wolff is featured regularly in television, print, and internet media. The New York Times Magazine has named him "America's most prominent Marxist economist".Wolff lives in Manhattan with his wife and frequent collaborator, Harriet Fraad, a practicing psychotherapist.

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Time Stamp

00:00:00 Highlight 00:01:08 Introduction 00:03:39 Why Marxism? 00:23:28 Fed interest rate hike 00:40:42 US labor movt 00:50:26 Ukraine war 01:17:00 Rapid fire