Super Imperialism. The Economic Strategy of American Empire. Third Edition

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And the policy that Gates is promoting in agriculture, instead of replenishing the soil is poisoning it. So if you wouldn’t want your worst enemy to be in charge of taking over American agricultural land, you wouldn’t want him to have any role in that whatsoever. And of course, the US-funded NATO troll farm known as Bellingcat had already been investigating this munitions dump issue. So that was pretty telling. I don’t think he needs introduction. He has written many books, and has been an economic adviser for multiple governments, and has a long history on Wall Street and academia. And you can find his work at Michael-Hudson.com.

Now in your column, you pointed out how this is actually a pretty funny comment coming from a US trade adviser, because some of those same things that the US is accusing China of – like namely weaponizing international trade, or fusing the civilian economy with the military economy – of course Washington embodies that really better than any other country in the world. The larger their surpluses grow, the more dollars they are obliged to put into US Treasury securities. Hence, the book’s title, Super Imperialism. Today, we’re going to talk about an issue that Michael Hudson has been writing about for decades, and something that you’re never really going to hear from other economists, especially mainstream neoliberal economists, and that’s what he calls super imperialism.Michael Hudson: Super Imperialism. The Economic Strategy of American Empire (Third Edition), Islet, 2021. ISBN 978-3981826098 I was actually gonna say earlier, it’s just funny to me that, in the US, economic experts, the so-called “experts,” are people like Larry Summers, the big privatizers, who have destroyed entire economies – in the case of the former Soviet Union, to subordinate Russia’s economy to US capital.

The Jakarta Method: Washington's Anticommunist Crusade and the Mass Murder Program that Shaped Our World Well I have spent a great deal of time in China, and I have professorships at a number of universities there. It certainly is fundamentally different from the United States. Keynes, J M (1943): “Proposals for an International Clearing Union,” White Paper given to British Government in April. Professor Hudson, here’s another interesting question from over at Patreon. Have you followed this debate on the so-called “Great Reset,” which the World Economic Forum has talked about; it’s their plan.So they’re expecting another Obama-type disaster that will make finance capitalism even more successful in reducing the rest of the economy to a state of dependency. So the United States is a rentier economy. And when left-wingers – or people who call themselves left-wingers, they’re really not left-wingers at all; they’re, I don’t know what, post-left – very few people who call themselves left-wingers distinguish between industrial capitalism and finance capitalism. Well, that’s the distinguishing feature of the last century. Never before has a bankrupt nation dared insist that its bankruptcy become the foundation of world economic policy; that, because of its bankruptcy, all the nations what their economies transferring its bankruptcy to themselves, stultifying their industries, and paying tribute to the beggar.” It is curious reading Keynes (a deity in political economy) represent the British empire in negotiations with US and get crushed. Hudson focuses on Britain’s Sterling area being the main immediate threat to the US (instead of Soviet Russia), and how the US superseded this to prevent Britain reviving its export industries within this area to pay for its war debts to India/Egypt/Argentina etc. For a critical Global South perspective on Keynes (as well as fall of British empire setting up Great Depression): It used to be, they’d say, if you don’t like it, why don’t you go to Russia? Nobody says that anymore. But what are you going to do? Oh, well, OxyContin I guess is the alternative.

So do you think that, when people on the left in the US and other countries argue that this is all just a rivalry, an inter-capitalist rivalry between the capitalist class in China and the capitalist class in United States, what do you think of that argument? And it doesn’t look like the government is going to find an alternative because they say there isn’t any alternative; iff you don’t like it here, why don’t you go to China? Whereas Americans are not good enough in language to go en masse to China.

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So what we’re seeing is an intensification of economic warfare against almost all the other countries in the world, hoping that somehow this will divide and conquer them, instead of driving them all together. And what the crisis really did was just accelerate the polarizing trend that you have in the United States, between creditors and debtors, between property owners and renters, and between consumers and monopolists. These trends have been exacerbated.