Daily Archives: December 29, 2020


Polarisation, Then a Crash: Michael Hudson on the Rentier Economy

Naked Capitalism has the post Polarisation, Then a Crash: Michael Hudson on the Rentier Economy.

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.


This is something that neither the right nor the left of politics seems to understand. If the left understood this, they would stop calling for the destruction of (industrial) capitalism.

Hudson is partially wrong in his assessment of China. In reading the book Trade Wars are Class Wars, I come to realize how China is shortchanging the workers too.