This interview presents a fairly complete explanation by Michael Hudson – Barbarism or Civilization

Here is just a sampling of what is in the interview.

Western textbooks indoctrinate students to believe that neoliberalism is the best way to run an economy efficiently – by not having a government to protect self-reliance and living standards, not to regulate against predatory monopoly and financial rent seeking. The aim is to let capitalism evolve into monopoly capitalism, which is really finance capitalism, because monopolies are organized by the financial sector as “the mother of trusts.”