The ideological foundation of today's business schools is that economic control should be shifted out of government hands into those of financial managers - that is, Wall Street.
Michael HudsonThe banks' product is debt. They try to tell customers that "debts are good for you," but the customers can't afford any more debt, so there's no way the banks can continue their current business plan.
Michael HudsonWe're living in a world that's divided into two economies: the economy of the 1%, and the economy of the bottom 99%. I guess you could be more "centrist" and say the top 10% versus the bottom 90%. But there's definitely a stratification at work here.
Michael HudsonYou could say that the vote to withdraw from Europe is, it's really a vote of the British middle class, the working class, to withdraw from the U.S. neoliberalism that has been running Europe for the last ten years.
Michael HudsonToday's national income statistics make it appear that Goldman Sachs is productive. As if Donald Trump plays a productive role. The aim is to make it appear that people who take money from the rest of the economy without working are productive, despite not really providing any service that actually contributes to GDP and economic growth.
Michael Hudson