That's not quite true. It's the opposite really. Most people feel economics deeply,they worry all the time about money, but they are not interested in the details that matter, the money system and they do not like to think about what could replace capitalism.

@@Achrononmaster The devil is in the details...Ask people what they think money is and what it does? Id be surprised if average folks give it much thought.... though their everyday is focused on earning it.Try to engage people in politics though and they'll have opinions

People think that it's too complicated, but they don't realize that in not understanding Economics they are helping to politically disenfranchise themselves.

They are interested in economic but they have a bad memories from the other times they tried to learn it. It's only recently that we have gotten you tube and that's where the best teachers are today. KZfaq.

exactly. and the shadow banking system

The USA has make-believe money and make-believe economics studies.

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I believe they teach what Michael calls rightly so Junk Economics, that of Milton Friedman, Ludvig Von Mise, the Ayn Rand cult followers, and Adam Smith but ignoring the parts where he talks about goverments stepping in when the free market fails. the Hudsons, Bill Black, and Richard D. Wolffe's are barred I would assume.

@LAFOLLETTER exactly and its sad that even left leaning outlets soo many being coopted by insincere wealthy donors and recycling propaganda and being controlled opposition are also blacklisting and shunning truthtellers and tarring and feather true anti-establishment voices. so for decades now left leaning outlets keep propping up the Democrats be it CLinton, Obama, and telling their readers and viewers not to support Ralph nader, Jill Stein not even support Dennis Kucinich or Mike Gravel or Tulsi Gabbard. then those who haven't jumped the shark on Anti-Russia hysteria/scapegoating, or haven't jumped the shark on war in Syria, Nicaragua, Ukraine, and haven't thrown Assange under the bus are blacklisted,smeared,airbrushed, and silenced. truly a sad state of affairs.

They purposely stay within the confines of neo-liberal thinking as initiated by Greenspan. Another words: Vulture Capitalism.

You gotta love how Hudson shills for the Chinese, an authoritarian, socialist shit show. His history lessons always forget to mention the starvation and genocide socialism always brings.

@@kurt.wilkinsongardendesign oh really then Tell us please when that happened? I bet u can't

Glad you like it. Please share widely. Have you checked out the Geopolitical Economy Research Group at the University of Manitoba?

I will check out the group. Thank you. I'm a Labour Studies major Econ minor. I have open electives. Considering taking GPE and History courses. I think both will help fill in the global picture. I read a lot outside of my course work. Right now I'm reading "and forgive them their debts" by M. Hudson, and "Ours to Own and Master" edited by Azzellini and Ness. I'll add Murowski to the que.

Union busting? You grossly misunderstand what I study, indeed one of my passions- labour and heterodox econ - This is Labour Studies: "Labour Studies provides a broad interdisciplinary learning experience with real life applications. We examine many aspects of work and society, including how job markets work, how workplaces are changing, laws and regulations, unions, sexism, racism and more. We explore "big picture" questions such as: Could work be organized differently? How does the global political economy affect workers in Canada and around the world? Can working people change society? Do unions have a future? We also study strategies for exercising rights at work, improving working conditions and gaining respect. What Can You Do With a Labour Studies Degree? Labour Studies both offers students the opportunity to understand work and society and prepares students for employment in a number of fields. A Labour Studies degree is also an excellent foundation for graduate studies in industrial relations and labour studies as well as for law school. Graduates of our Advanced Major program have careers as union organizers, representatives and researchers, human relations officers, constituency assistants, Employment Standards Officers, worker advocates, health and safety officers, and in various branches of government. Others work as lawyers, in social agencies, Non-Governmental Organizations (NGOs) or businessses. Our graduates work in jobs including: -Worker Advocate -Employment Standards Officer -Health and Safety Officer -Human Rights Investigator -Human Resources Manager -Labour Relations Board Officer -Workers' Compensation Board Caseworker -Worker Advisor -Legislative Assistant -Policy Researcher -Union Representative -Union Organizer -Labour Lawyer What can you do with a degree in Labour Studies? Our program has an excellent record when it comes to post-graduation employment. In Manitoba and across Canada Labour Studies graduates with Advanced Major degrees find jobs as personnel officers with corporations and municipalities, with private firms and crown corporations, as bargaining agents for unions, as researchers for governments and social-action groups, as policy developers, as media reporters and analysts. Our graduates are considered by many employers to be skilled in labour relations and usually find good jobs -- or get accepted into graduate programs -- almost immediately after graduation. What about further study? Our graduates are welcomed with open arms into Industrial Relations and Labour Studies programs, including McMaster University (Hamilton), the University of Toronto, Queen’s University (Kingston), and foreign universities. Many Labour Studies graduates study law, and are accepted into law schools in Manitoba and across the country." "What Graduates Say Interesting, practical and inspiring, these courses will challenge you to develop informed and critical perspectives on fundamental aspects of contemporary life. My degree in Labour Studies has proven to be an invaluable resource both for my work and for the way I see the world. Greg MacPherson, Executive Director of the West Broadway Community Organization & singer-songwriter Here is what some graduates of the Advanced Major in Labour Studies say: In my opinion, the Advanced Major in Labour Studies is among the most practical Arts programs available in Canada. In my experience this degree opened up many doors not always available for an undergraduate degree. I was able to use the extensive real research project finished in the placement course to gain a job with an international development project supported by the Canadian government in South Africa. Of the participants in that project, I was the only person selected that hadn't completed a Masters or PhD. I was told this was specifically because of the Advanced Major course content and field placement experience. This undergraduate degree also allowed me to focus so many courses in the area of industrial relations. This allowed me to use many of those courses as credit for introductory courses offered in a graduate program at the University of Toronto. This allowed me to shorten the length of that program and graduate with a Masters in Industrial Relations and Human Resource Management in a little over a year. Jay Short, Manager of Special Investigations in the Employment Standards Branch of the Manitoba government's Department of Labour and Immigration The additional courses and especially the practical experience that I acquired through the Advanced Major in Labour Studies are invaluable. They really set me apart from other applicants when it came time to apply for positions in the field of labour relations. My placement in the 4th year field placement course that Advanced Major students take was at the Manitoba Human Rights Commission. There I learned countless practical skills hat I still use today. Not only did I gain valuable research skills, but I also learned about different dispute resolution mechanisms that are now a part of the knowledge base that I rely on daily. I believe that the Advanced Major in Labour Studies really set me up to be successful in my chosen career as a labour relations officer for a union. Not only did my education and experience stand out on my resume and in my interview, but I have the skills to really help people and be successful in work that I find meaningful, challenging, and rewarding. Marise Frankel works as a Labour Relations Officer with the Manitoba Nurses Union The Advanced Major program in Labour Studies set me on a course for success in my career. The program's flexibility allowed me to take numerous courses that had practical implications for my first job, after graduating, as a personal injury claims adjuster. During my final year, I participated in the field placement and it was a great way to earn Canadian experience, as I didn't have any relevant professional work experience at the time. After completing my placement, I had grown particularly interested in pursuing a law degree in order to advance the lives of low income and vulnerable members of our society. I think the Advanced Major in Labour Studies represents an immense investment in one's future. David Sowemimo is currently completing a law degree at the University of Manitoba"

Thanks. Don't forget to share the video with all of your friends.

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Instead of being a shill for the Chinese maybe he could provide some criticism as well. I know, too much to ask from an educator, present the facts and let students determine what they think for themselves. No, just ram through his own flawed ideaolgy.

Frankie boy. If you want change the academics need to find a way to inform the masses.

Its ending now. Look at Hudson's vid on de-dollarization.

Cryptocurrency

Money is a social unit of account having a fiscal/tax relation between the issuer of the currency and it's users. Government expenditures and not taxes pay for entitlement/discretionary spending and interest on the debt. Demanding that taxes be paid in dollars, insures the validity of the dollar as the means of exchange. Taxes are vital for restraining concentrations of wealth, (power) and include capital gains, dividend, interest, corporate, inheritance, estate and passive income tax. The National Debt is the amount in dollars spent into the economy that the federal government buys back in exchange for interest bearing Treasury securities, essentially transferring dollars from checking to savings. Deficits occur when the federal government spends more into the economy then it taxes back out. Deficit spending provides the liquidity necessary for the economy to function. Inflation is a continuous rise in prices across the economy due to a shortage of resources and/or productive capacity. Hyperinflation is a collapsing value of the currency across the economy due to a collapse in resources and/or productive capacity. Stagflation is a decline in economic activity compounded by a continuous rise in prices across the economy due to the scarcity of a vital resource. Recessions are cyclical contractions of liquidity across the economy that cause a corresponding decline in economic activity. Depressions occur when the federal government runs a surplus, starving the economy of liquidity that cause deep and systemic unemployment, and an unsustainable escalation in private debt.

The people might. The country will not. Consider Russia after the fall of the Soviet Union.

The county doesn’t deserve to survive.

To date, no one has made any negative comments. I'm sure we'll see some sooner or later.

Go down some of the comment threads and you'll find a Kurt Wilkinson complaining pretty hard than Hudson is a Chinese shill.

There's always one in everything and I see someone has found that one!

You certainly never read Marx' Kapital 1.Band let alone his second and third otherwise you wouldn't talk such nonesense. Marx was the one who gave us a complete analysis of the theory of economic rent, i.e unearned income far superior than Adam Smith had reasoned about it. Even his theory about depreciation is still valid til today let alone the theory of surplus value (which most Marxists have misinterpeted)

Yes, it would be interesting to hear him critique policy choices of 20th century China. But he probably won't cuz he works in China. And this is the same reason almost no other western economist expresses views similar to Hudson's... they work in the west

@@jamesdewane1642 then it’s all relative

@@augurcybernaut4785 or just that criticizing anything is easier for an outsider. Kinda like RT will talk about flaws in the west, but won't criticize Putin. So RT is a good source for some things but i have to go elsewhere for a reasonable evaluation of Russian policies. Hudson is an excellent source for a lot, but I don't expect him to go hard at the CCP. Other sources do that.

@@jamesdewane1642 my problem is that i let my skepticism shield of credulity go way down when he speaks....or Graebar..... but then one falls into that space where any criticism or push back is met with ‘die capitalist pig’ or ‘empire stooge’ etc nothing that speaks to the holding him to account for glossing over obvious obsequious winks at CCP. Nevertheless I consider him right up there with Adam Curtis as formidable resources.

@@augurcybernaut4785 Thanks for suggesting names to check out. One thing I gotta say though is that Hudson is super likable. Never pompous or condescending, cares about real world effects but never seems upset. I hope I'm having as much fun as him when I'm 82. It's like he's watching his neighbor connect the gas pipe where the water inlet is supposed to go. He's willing to point it out but in the end knows it's the neighbor's choice whether to follow his instructions or not. Meanwhile he's connecting water heaters in China the right way.

@Space Monkey you agree it always fails, but still believe in the religion of socialism. Socialism is cancer!

Hudson's beef is with rentiers, and even that is limited to periodic debt cancellation and restoring lost property. He does not advocate state ownership of all. His recommendations are for lowering the costs of production through government action. Everything he says assumes a private sector.

@@jamesdewane1642 why not lower the cost of everything through the use of government control?

@@kurt.wilkinsongardendesign Because that kills incentive and initiative. There is no price discovery. You get things like huge heavy padlocks (because the factory goals were set in terms of kilograms in the USSR) and crazy expensive aspirin in US hospitals (because payment and service are so widely separated.) I'll go on a bit here because I see you've commented in quite a few threads responding to this vid. The charge of "shill for China" that you make against Hudson is serious and important. Ultimately, their is no defense against it because it relies on understanding his motives, which humans are notoriously good at masking. I think asking him about China's 20th century history would be very interesting and revealing. I imagine he would agree that the Great Leap and Cultural Revolution and Maoism in general were disastrous, but maybe he wouldn't. I don't know your motives either, but a debating tactic is to focus on flaws in your opponent or his argument and keep attention away as much as possible from the valuable points offered. To avoid falling into that situation seems to me a perfectly good reason to stay silent about the monstrosity of 20th century China. Anyone who wants to know about it in this country has easy access to sources. Hudson's work is about describing the train wreck underway right now in the US and its worldwide system. Is his motive to flip worldwide control to the Chinese? Maybe, but his aspiration seems higher. Once our culture has the tools to understand our situation, other choices become possible. Hudson comes from a family that was heavy into labor organizing, yet that's not what he has chosen to do. Maybe because he saw the limitations in it? Again I just don't know. Does he care about humanity and our culture? He spends his time explaining how the current system is set up for a few people to limit the choices and prosperity of everybody else. His opinion of the choice made by the Winnipeg elite shows a lot. In Hudson's mind, they looked at their options and said, "Fuck off. We don't want a bigger pie and bigger slices for ourselves if it means that our power goes down in relative terms." Imho, Hudson sees the current system producing an absolute diminution in human thriving, and he's working toward something better. Is he wrong, deluded, lying, captured by cynical Chinese interests? All these are possible. But look at his history of working at the highest levels of banking and government. He's had PLENTY of opportunities to cash out, but instead he exists on the margin, gently pointing to the lessons of 5000 years of financial history. I think the man has chosen the most interesting, exciting and life-affirming path from the choices in front of him. He's still got all his hair and has the energy to go all over the place with his spiel at 82. Driven by demons and an attention whore, or full of integrity and a sense of mission?

@@kurt.wilkinsongardendesign LOL I went on a bit. Back to your question though. Government control of EVERYTHING doesn't reduce cost. Government control of monopolistic and rentier behavior has the potential to reduce cost. People responding to preferences as expressed through price signals and shared infrastructure, that lowers costs. Governments sometimes get the shared infrastructure thing right. Private interests usually make monopolies out of them. Governments are bad at writing comedy. Individuals in competition come up with valuable innovation all around, and a society gets more of it when people have some time and energy left over from meeting necessities. But if you establish and maintain monopolies in necessities, chances are 98% have no time to think about or implement innovation. And yes, a government monopoly can and often is every bit as bad as a private one. So that's why gov transparency and wide participation are so valuable, and may be exactly what will put the west on top again some day. I can't say I know this in any detail, but when China was the unipolar power in the east circa 1500 they were all about exploiting their population and squelching innovation, till they got a rude awakening from the entrepreneurial west.