Stats for nerds
2recommend
5mentions
5people
2018–2026years
40% recommend60% neutral
Mentions per year
What Hacker News says
- Financial Imperialism is the reason why US is rich in terms of resources and because of material richness, lot of raw brainpower is attacted to America. Read the book "Super Imperialism: The Economic Strategy of American Empire" by Michael Hudson.
- What a nonsensical article. It's clearly written for those who want to find populist reasons to frame capital as the enemy, all while ignoring basic economics or arguments.
#1: UBI is a dramatic potential restructuring of demand generation. It impacts markets, regulations, and all of the above the author stated as being ignored.
#2: Demand generation economics mostly comes from Keynes. They have been studied extensively and implemented across the board post WW2. How capital is distributed to education (free college), is a matter of public policy & not economic principle.
#3: This author needs to read more into basic economics and approach writing about such matters without a clear bias. Yes, we live in an era of massive inequality. But no, not all successful capitalists are out to create an economic system against "the people." I know multiple techno-capitalists with massive success, and many of them are interested in donating the majority of their wealth. They see UBI as an experiment that can help stabilize our domestic wealth & reduce inequality. This author is using misinformation to create a negative reaction, and her economic reasoning is weak at best. It's propaganda.
Recommended Reading:
- "Super Imperialism" by Michael Hudson - "The War on Normal People" by Andrew Yang - https://en.wikipedia.org/wiki/Post%E2%80%93World_War_II_econ...
- > Google super imperialism
Not sure which one the parent means but this is what I found:
https://www.amazon.com/Super-Imperialism-Origin-Fundamentals...
- Michael Hudson, of super imperialism fame, has a good take - get others to keep your biggest rivals occupied - https://michael-hudson.com/2023/11/israel-as-a-landed-aircra...
- Michael Hudson's "Super Imperialism: The Economic Strategy Of Imperial America" explains:
"When the US payment deficit pumps dollars into foreign economies, these banks (have) little option except to buy US Treasury bills and bonds which the Treasury spends on financing an enormous, hostile military build-up to encircle (today's) major dollar-recyclers China, Japan and Arab OPEC oil producers" - essentially a process by which they finance their own endangerment.
From https://www.countercurrents.org/lendman010709.htm
Additional links:
https://mronline.org/2021/02/09/michael-hudson-changes-in-su...
