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Michael Hudson on the Rentier Economy
Michael Hudson argues that the increased financialization of capitalist economies is driving these societies toward collapse. Leading up to the collapse, Prof. Hudson says wealth and incomes become more and more polarised until the result becomes ultimately unsustainable. He says that the advancement of capitalism was supposed to be a movement away from feudalism. Instead we are now moving back toward feudalism.
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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. ....

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