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Quote by Michael Hudson

“The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial managers - that is, Wall Street.”

Quote by Michael Hudson

Author

Michael Hudson is a renowned economist, born in 1939. He has conducted extensive research in the field of economics, particularly in finance, real estate, and debt. Professor Hudson has held teaching positions at several prestigious universities and has authored numerous publications on economic theory and policy. more

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“So the political choice today is much like the 1930s, when the global economy also broke down. The choice is between nationalism and populism on the right, or socialism reviving what used to be left-wing politics.”

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“The problem is indeed that one party's debt finds its counterpart in some other party's savings. Not paying debts therefore involves annulling some other party's financial claims on the debtor.”

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“The Eurozone die is cast. Countries must withdraw from the euro so that governments can create their own money once again, and resist creditor demands to carve up and privatize their public domain.”

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“The United States Government has fought against creation of an international court to adjudicate the ability of national economies to pay debts.”

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“Debtor countries may postpone the inevitable by borrowing from the IMF or U.S. Treasury to buy out bondholders. This saves the latter from taking a loss - leaving the debtor country with debts that are even harder to annul, because they are to foreign governments and international institutions.”

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“Most actors, unless they're big movie stars and can carve out huge chunks of time to focus on one movie that takes six months - the rest of us have to jump around to make ends meet.”

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“My parents grew up in the Depression. Despite the success that they both had in their lives, there's a certain mentality that tells you to finish all the food that's on your plate and not wasting anything and appreciating what's on the table.”

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“I turned down a lot of things - some very lucrative - because I could afford to at that time. That didn't lead to a happy place. I was happy to spend time with my family, get to know my daughter, who was born during The West Wing.”

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“I worked as hard as I could. I was always the first one on the ice, and the last one off.”

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“Without love for my fellow man and respect for nature, to me, life is an obscenity.”

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