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.
International gathering in New York City fails to enforce its own decisions while regional wars expand in Europe and West Asia.
"Bassackwards Tribe strikes again!" is the latest from BAR's Poet-in-Residence.
Israel's assassination of Hassan Nasrallah is a heavy blow to Hezbollah and the resistance in the region. But this loss will not break the movement.
Since Kamala Harris became the Democratic nominee for president, liberals have seen her as the next Shirley Chisholm. In this case, they are correct.
The death of Alberto Fujimori should signal the end of a devastating and tragic era for the Peruvian masses. However, the violence and corruption that were staples of his regime remain…
