Michael Hudson sitting in the corner like Jim from the office
In a recent Geopolitical Economy video Hudson called the longtime NYT resident economist Paul Krugman a dummy. In more words and more specifically, but that was the gist of it.
the market was left to decide how to deploy labor, technology and capital in the belief that efficiency and growth would automatically follow
This idea that the invisible hand of the market would have allocated resources in the most efficient way is the biggest lie ever told to the people.
I really hope the whole idea of globalization dies and nations start to bring back labour previously exported elsewhere. The funny part is that we knew this would have happened, but nobody cared to changed the system.
People knew and tried to prevent it. Then they got couped.
