m of care – apr 4 25
[https://museum.care/events/michael-hudson-lecture-series/]:
Michael Hudson Lecture series / Money, Debt & and how they shape our collective political imagination
On April 4th, Michael Hudson will address questions raised during his previous talk at the David Graeber Institute.
m of care – jan 9 25 – against econ
This discussion is part of the Michael Hudson Lecture Series, which explores the nature of money and how today’s political landscape drives a profound economic shift. As the long-standing tenets of neo-liberal capitalism crumble, we must ask: What comes next?
This event will also mark the launch of the development of the DGI’s online educational platform, which will feature regular lectures—starting with Professor Hudson—and a collaborative effort to develop a media wiki with online commentary on David Graeber’s key texts, incorporating parts of his unpublished archive.
As part of this initiative, Professor Hudson will lead a short course that offers students an opportunity to refine their understanding of debt as a historical force. Excerpts from unpublished notebooks by David Graeber will also be available and serve as reference points for discussion and research, alongside Professor Hudson’s own work.
The course will consist of four online lectures starting in May, that will be conducted in group formats. Select excerpts will be published online.
We asked Michael Hudson to address some of the questions from the previous session (m of care – jan 9 25) – see his responses here.
[i added notes from those answers to m of care jan 9]
notes/quotes from meeting:
75 here at 1:10.. but no michael.. ha
nika: how debt forgiveness could work now
michael: even if no interest.. people would fall into debt.. ie: if have to borrow to get by during planting season.. most debts come not from people borrowing but from interest.. whole econ debt ridden .. as debts go up.. less ability to consume.. every econ faces a choice.. write down debts.. or leave in place and transfer property to creditor class (1%).. so effect of not cancelling debts is econ polarization.. that’s why my book on history of debts.. and why david wrote to say.. civ did not begin in way west civ began..
cormac mckay asks about venus project in chat.. then about vacant property
michael: problem is that money is basically a public utility.. prior to w civ money was kept in public sector.. govt accept it for paying taxes.. always been a product of govt.. but late 19th cent banking began to be privatized..
michael: trump is doing exact opp of american protectionism.. key is econ of high wages.. well fed/educated/healthy et al more productive than popper labor..
michael: (talking about the ubi ness he addresses in questions from feb 9.. like peckham experiment as ubi)..
legit needs met sans money nessmichael: once you privatize a public utility.. you add profits, management fees .. and all the costs of financing debts.. all trump is doing is replacing growth of income tax w tariffs.. to go back to time when bankers, et al, didn’t have to pay any income tax at all.. rather all based on tariffs produced by consumers
michael: if don’t have immigrant labor doing hard work.. how to have a labor force.. so pretending to restored golden age
michael: the problem is not govt debt it’s private debt.. govts can’t go broke if have debts in own currency.. can always print the debt.. govt debt so large it can’t be repaid.. can only do it by creating the money.. govts don’t have to borrow to do their work.. ie: to finance war.. et al..
michael: greece debt wasn’t in their own currency
nicholas marx asks: Could Keynes idea of the Bancor, be the solution? How would it work?
michael: bancor is great idea.. was to say.. the good thing about cancelling debts is it cancels savings of creditors.. who are trying to reshape and corrupt.. w tax/reg system in own interest instead of econ growth.. i’ve been urging (?) countries to adopt a bancor.. so not having one country getting rich by indebting debtor countries..
michael: idea of people’s money is not a workable idea.. anybody can create money.. but not everyone will accept it.. idea is a right wing lib idea.. designed not to work.. a blind alley to distract from changing social structure.. all this talk of localism and people’s money is vast deception.. well meaning.. but stupid.. money is a public utility.. you can’t privatize it.. except among friends who change ious with each other.. money is a govt thing
michael: michael .. we can’t really create money locally.. have to have it done thru govt.. can have banking/saving/credit-union.. they can borrow.. but local credit union or state bank can create money.. only govts can do that.. they can transfer money.. but can’t create new.. in order to create money need a symbiotic relationship w govt..
michael: don’t want people to study history because full of people creating alts.. and want people to believe no alt
to me.. no legit alts to date.. to me.. huge reason why is.. keep studying history.. need to let it go and go for a global re\set
michael: everything england has done is a wonderful ie of what not to do in a country.. there is another way.. but you can’t be english and do it
michael: if tax away monopoly rent of real estate and public utilities.. econ freedom as un taxing.. let then
stas: made a lot of comments today about creation of govt.. what do you think about anarchism in general.. seems you don’t see it working
michael: it ends up with libertarianism.. doesn’t address the problem of how to restrucuture society/govt
oi.. actually .. it is closest to a legit alt
we haven’t yet tried/seen anything that gets to the root of problem
legit freedom will only happen if it’s all of us.. and in order to be all of us.. has to be sans any form of measuring, accounting, people telling other people what to do
how we gather in a space is huge.. need to try spaces of permission where people have nothing to prove to facil curiosity over decision making.. because the finite set of choices of decision making is unmooring us.. keeping us from us..
ie: imagine if we listened to the itch-in-8b-souls 1st thing everyday & used that data to connect us (tech as it could be.. ai as augmenting interconnectedness)
the thing we’ve not yet tried/seen: the unconditional part of left to own devices ness
[‘in an undisturbed ecosystem ..the individual left to its own devices.. serves the whole’ –dana meadows]
there’s a legit use of tech (nonjudgmental exponential labeling) to facil the seeming chaos of a global detox leap/dance.. the unconditional part of left-to-own-devices ness.. for (blank)’s sake.. and we’re missing it
ie: whatever for a year.. a legit sabbatical ish transition
michael: david graeber wasn’t that kind of anarchist.. he was against govt oppression..
14th april.. michael and yanis varoufakis
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be you. 