Is the US a Failed State? Why the U.S. Economy cannot Re-Industrialize
By Michael Hudson – 2023
[Matthias Chang’s comments: This is an important interview by Prof. Michael Hudson and he explains the key factor for the economic demise of the US Empire. The second PDF consist of a number of graphs. Then make your conclusions.]
Michael Hudson: America cannot re-industrialize without reversing this whole philosophy of post-industrial society as a class war against labour. You can’t have both. You can’t have a class war against labour and re-industrialization with the labour unionization that goes with it. Countries who let an oligarchy develop end up pushing their own economies into obsolescence and a kind of dark-age. It’s policy, and most of all, it’s the policy of the Democratic Party’s administration here.
Continue reading from the first PDF below:
Second PDF – Graphs for your evaluation: