Economy

girl gone mad

(20,634 posts) Fri Mar 2, 2012, 06:52 PM Mar 2012

The Giant 21st Century Asset Grab

[font color="gray"]On the plan for the 1% to monopolise Main Street through concentration of ownership AKA asset grabs. [/font]

http://www.creditwritedowns.com/2012/03/giant-21st-century-asset-grab.html

Transcript

PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay in Washington.

Concentration of ownership leads to concentration of political power. It’s rather obvious. It’s practically a truism. But it’s not something you will hear said very often on mainstream media. But it certainly goes to the core of what’s happening in Europe, Greece, and in United States and Canada and many—most other countries, if not all.

Now joining us to talk about the relationship of banks, big banks, financial power, and public policy is Michael Hudson. Michael was a former Wall Street financial analyst. He’s now a distinguished research professor of economics at the University of Missouri–Kansas City. And you can find his work at Michael-Hudson.com. Thanks for joining us, Michael.

MICHAEL HUDSON, RESEARCH PROF., UMKC: Thank you very much, Paul.

JAY: You’ve written that, you know, all economies are planned to some extent; this idea that there’s simply a free market without government planning is not very realistic. And [incompr.] you’ve raised the question: but who does the planning, and for whom? Talk about that.

HUDSON: Well, in the past, ever since the Neolithic agriculture, wherever you have a division of labor and a time gap between production and a final payment, planting and harvesting, you need forward planning. The whole idea from the 18th and 19th and early 20th century is that the governments would make a forward plan. The French called this planification, or indicative planning.

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