Allied with landlords and monopolists, the finance sector is extracting economic rents from the economy that’s impoverishing US government, industry and labor says Michael Hudson discussing the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.
The governments of India and South-Africa backed by about 100 countries and counting are calling for a waiver on patents over COVID-19 related medicines and equipment. Headquarter countries of Big Pharma are opposing it. The debate is going on at the WTO and will be decided soon.
This interview was originally published on May 28, 2014. Mr. Lapavitsas says that during the financial crisis the power of the state was mobilized to save finance.
This is an episode of Reality Asserts Itself, produced on June 9, 2014. Mr. Johnson says the idea that you were going to cut taxes massively and this was going to lead to a growth in revenue and close the deficit was silly.
This interview was originally published on May 27, 2014. On Reality Asserts Itself, Mr. Lapavitsas says modern capitalism requires financialization, but productive growth in the interests of the majority of people does not.
This is an episode of Reality Asserts Itself, produced on June 8, 2014. Mr. Johnson, who, while working with George Soros, “broke the Bank of England,” talks about growing up in the turmoil of racial tension and the mass movement against the Vietnam War.
Richard Kozul-Wright explains why these challenges need to be addressed at once in a transformative agenda. The COVID-19 crisis shows that funding can be made available; the problem is the lack of political will to confront the Wall Street consensus.
Bill Black traces the history of modern American financial fraud starting in this episode with the S&L Banking scandal. Bankers continue to loot their banks, customers, and society to this day. Part 1/9, on theAnalysis.news with Paul Jay.
This interview was originally published on May 25, 2014. Mr. Lapavitsas says that capitalists have learned how to make huge profits without producing anything useful.
This interview was originally published on May 22, 2014. Mr. Lapavitsas, author of ‘How Finance Exploits Us All’, traces his own political development, coming of age during the Greek dictatorship.
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