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A Correspondence with World Bank Whistleblower Karen Hudes, The First Order of Business. Christof Lehmann CNBC

See also the RT interview with Karen Hudes above

There are few who doubt that World Bank whistleblower Karen Hudes is one courageous woman. Hudes, who worked 20 years in the World Bank´s legal department, reported corruption by a conglomerate or megabank, which according to Hudes is responsible for corruption in the Bretton Woods institutions. A cartel which effectively has the U.S. Federal Government under arrest, and which is likely to maneuver the world into a global currency war and a breakdown of the world financial system and trade.


In economics there is the notion of economic rent—payment in excess of what is required to mobilize factors of production. For example, such rents accrue to those who have “cornered the market”—by artificially restricting supply of some resource, they are able to dictate usurious terms to buyers. We call them “rentiers”.

China – Avoid the West’s Debt Overhead: A Land Tax is needed to hold down Housing Prices by Michael Hudson UMKC 07/22/13 2013

How can China avoid the “Western financial disease” – a real estate bubble followed by defaults and foreclosures? The U.S. and European economies originally sought to avoid this fate by taxing the location’s site value. A rent tax was the focus of Progressive Era reforms.

"The Insider’s Economic Dictionary – Part A" By Michael Hudson UMKC July 18, 2013l

The Antidote to Euphemism

The fallacies that lurk in words are the quicksands of theory; and as the conduct of nations is built on theory, the correction of word-fallacies is the never-ending labor of Science. … the party in this country, one of whose great aims was, at one time, the perpetuation of slavery, owed much of its popular vote to the name Democracy.
– S. Dana Horton, Silver and Gold (1895)

"A Plan for All the Detroits Out There" By Marshall Auerback, Stephanie Kelton and L. Randall Wray UMKC, N.E.P.

Should the federal government bailout Detroit? That’s the question everyone is debating. We think the discussion should be expanded well beyond this narrow question. Detroit is the canary in the coal mine, but it’s symptomatic of a bigger problem, which is the lack of jobs and decent demand in the economy.

Discrediting Regulation: from George Stigler to Tyson’s Fraud-Free Carbon Tax Fantasy by Willaim Black UMKC, NEP blog

Laura D’Andrea Tyson (President Clinton’s principal economist) has written an ode to a “carbon tax” that does not acknowledge a single disadvantage or substantive (as opposed to political) concern with such a tax. A carbon tax can have advantages, but her article oversells the idea and ignores the severe concerns about such a tax. Her article demonstrates why the Clinton administration’s anti-regulatory and fiscal policies helped sow the seeds of ongoing financial disaster. (The Bush administration watered and fertilized those seeds and we all reaped the whirlwind.)

Revealed Biases: Why MMT Critics Continue to Rely on Strawman Arguments William Black, UMKC, NEP blog

Economists of nearly every flavor believe in the concept of “revealed preferences.” What matters is not what people say they will do in a hypothetical situation, but what they actually do. Their actions speak more credibly than their words. In this column I announce a related concept: “revealed biases.”

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