A new book about the “debt trap” (at home and abroad) by Michael Hudson just came out.
It’s The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism.
I like it well enough that I wrote a detailed review of it:
Empire’s Neoliberal Debt Trap: How to Resist Gluttonous Greed
America’s response to its declining industrial and economic power is to tighten its control over Europe by force and sanctions. The result? A new Iron Curtain.
My review appears in both Hollywood Progressive and CounterPunch.
In CounterPunch it’s How to Resist the Empire’s Neoliberal Debt Trap.
One of the main themes in the book is something I’ve been writing about recently:
The US/NATO confrontation with Russia in Ukraine is achieving just the opposite of America’s aim of preventing China, Russia and their allies from acting independently of U.S. control over their trade and investment policy… the Biden Administration’s plan was to split Russia away from China and then cripple China’s own military and economic viability. But the effect of American diplomacy has been to drive Russia and China together, joining with Iran, India and other allies.
I hope this “teaser” makes you want to read the whole review. It reflects themes in my book.
Your comments are welcome and encouraged!