by the Real News Network
Barack Obama and the bipartisan quacks of Wall Street and corporate media keep telling us that lower taxes on the wealthy create jobs, the exact opposite of what real economists have known for ages. For a dose of economic sanity, Paul Jay of The Real News Network interviews Michael Hudson, a real economist, who explains how the U.S. was more prosperous and created more high wage jobs when it taxed 90% of the highest individual and corporate "earners".
VIDEO
Dr. Michael Hudson is, unlike the mopes you see on TV, an economist who actually predicted the real estate, subprime and general financial meltdowns of the last few years. Dr. Hudson is a financial economist and historian. He is president of the Institute for the Study of Long Term Economic Trends, a Wall Street financial analyst, and distinguished Research Professor of Economics at the University of Missouri, Kansas City. His 1972 book, Super imperialism, the Economic Strategy of American Empire is a critique of how the United States exploited foreign economies through the IMF and World Bank. He is also author of The Myth of Aid, and Global Fracture, the New International Economic Order. On today's program we discuss his newest book, in progress, the Fictitious Economy; How Finance is Destroying Industrial Capitalism, and Paving the New Road to Serfdom.
And the Real News Network is exactly what its name says. It's one of the places we at Black Agenda Report go to get OUR news. Thanks to Paul Jay.
The US clearly intends to justify yet another armed intervention in Africa in order to reinstate its former proxies in Ethiopia
Miami serves as a heightened case to explore such contradictions as I look closely at tensions between African Americans, white Cubans, and Black Cubans.
In typical critical analyses and progressive multiracial mobilizations Black suffering is acknowledged while antiblackness is negated
Historian Elizabeth Hinton’s book reveals that, in the late sixties and early seventies, there were hundreds of local rebellions against white violence and racial inequality.
The U.S Has a long history of blaming Asian immigrants for outbreaks of disease, and every time, democracy and public health suffer.
