A Quote by Michael Hudson
Elites play the role today that landlords played under feudalism. They levy interest and financial fees that are like a tax, to support what the classical economists called "unproductive activity."
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You have the upper class Negroes who are the modern day Uncle Toms or the 20th century Uncle Toms. They don't wear a handkerchief anymore. They wear top hats. They're called Doctor, they're called - Reverend, but they're still - they play the same role today that Uncle Tom played on the plantation.
No hypocrisy is too great when economic and financial elites are obliged to defend their interest.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
There's a play that Chekhov wrote called 'Uncle Vanya,' and I when I was in school, I played Sonya, and sometimes people ask me if there was ever a role I could play again, that's definitely the role I would play again: Sonya in 'Uncle Vanya.'
The Harper Government is committed to ensuring that seniors have the skills they need to make solid financial choices. Seniors today face an increasingly complex financial marketplace, and it will take the combined efforts of public and private sector organizations to help seniors navigate the many financial choices they face. The start of Financial Literacy Month is an excellent opportunity to thank the Canadian Bankers Association and encourage other private sector organizations to take an active role in providing financial literacy support to Canada's seniors.
The First World War, and especially the latest one, largely swept away what was left in Europe of feudalism and of feudal landlords, especially in Poland, Hungary, and the South East generally.
Why do we fully tax some kinds of income from capital, like interest and dividends; partially tax other kinds like capital gains; defer tax on other kinds, like IRAs; and impose no tax at all on still other types of capital income, like interest on municipal bonds? This simply is not rational. These distinctions don't have any inherent logic.
I don't want to get into the 'who's a hostage-taker' discussion here, but what is the estate tax? It's a double tax on death. Economists will tell you that it's really not a tax that soaks the rich, but it's a tax on capital that deprives business investment and therefore job creation.
Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
I took classical piano for a couple of years, but I sort of lost interest - I couldn't read a note today if I tried. I still enjoy that stuff, and I think I naturally gravitate towards the classical licks; in fact, I know that I do. I gravitate towards the classical licks that I heard by famous old composers.
Given the large uncertainties at each major step of the case for reliance on a carbon tax, economists should reconsider their current support for such a policy.
It's very un-American to say nice things about elites. Elites are often terrible. It's not like we've ever had a perfect set of benevolent democratic elites ruling over our country. But the fact of the matter is that a representative system of democracy delegates power to elites.
There is one great advantage to being an academic economist in France: here, economists are not highly respected in the academic and intellectual world or by political and financial elites. Hence they must set aside their contempt for other disciplines and their absurd claim to greater scientific legitimacy, despite the fact that they know almost nothing about anything.
There are elites that are real leaders and role models. There are elites that are really selfish and want to pull up the ladder once they've reached the roof.
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential approach to supervision and regulation needs to play the primary role.
The biggest profit center for investment banks is the hefty fees they charge for underwriting stock offerings and giving financial advice, and analysts put those profits at risk if they publish negative conclusions about the companies that pay the fees.
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