The Shepheard Walwyn Podcast

Michael Hudson (Part II) - A Philosophy for a Fair Society

June 14, 2022

Hello and welcome to the Shepheard Walwyn podcast series. My name is Jonathan Brown.  Shepheard Walwyn is a campaigning book publisher based in London, England.  Our purpose is to uncover and promote new ideas to society’s oldest problems. Whilst our specialty is ethical economics, something Anthony Werner, our driving force for over 40 years has pioneered, we have branched out over the years to other related areas such as the environment and the lives and work of society’s change agents. 

These podcasts promote ideas we are convinced can actually help us to build a better society for all of us. So have a listen and be sure to share with your friends if you like them and tell us what you think – these are debates we all need to be a part of. 

Welcome to Part Two of our interview with Michael Hudson, perhaps the world’s most influential, (but rarely acknowledged), economist. In the 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.  

In this episode, we dig into Michael’s most famous work, Super Imperialism, the Economic Strategy of the American Empire. In this book, first published in 1972, Michael described how the USA was able to force the world to use the US dollar as its default international currency – the so-called ‘dollarisation’ of the world economy which accelerated in the 1960s to today.  We also look at the reverse which is happening as we speak - the rapidly accelerating de-dollarisation due to US actions against Russia and China. Essentially this is where economies around the world stop using the US dollar as their trading and reserve currency and start using other currencies instead in terms of impact. This change may be the most important economic event since the Second World War.  Here are the time stamps for the conversation. 

 

0.0               Welcome and focus on Super Imperialism

2.50     Understanding money and balance of payments deficits and how the USA avoided paying for its deficits. 

13.30   What’s Michael’s view on the economic impact of the Ukraine conflict?

17.15   What’s the real cause of the grain shortage and how are we moving to a multi-polar world?

28.00   Is Biden really in charge?

30.30   Working with Herman Kahn at the Hudson Institute. 

37.30   How is China dealing with the Tech Billionaires?

41.00   What are the scenarios for Russia and China?

45.30   What is your take on China’s zero COVID policies?

 

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Please note, the 1st edition Michael Hudson's A Philosophy for a Fair Society only available on eBook currently:

https://shepheardwalwyn.com/product/a-philosophy-for-a-fair-society/

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