Michel Bauwens: Michael Hudson on Fictitious Capitalism

03 Economy, Commerce, Corruption, Government
Michel Bauwens

Michael Hudson on Fictitious Capital « naked capitalism

Michael Hudson spoke with Max Keiser about what he calls “fictitious capital” which is essentially lending backed by inadequate capital, such as collateral that has fallen in value. This is an idea he has explored in his previous papers, such as “From Marx to Goldman Sachs” and now in his new book, The Bubble and Beyond.

Via Nicholas Ripley

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