Michael Hudson has been a voice in the wind since the first Edition of Super Imperialism in 1973.. He has been blackballed, ridiculed & ostracized by mainstream economists. Why? Because he challenged conventional wisdom that Balance of Payments deficits were an anomaly & then later in history as "natural" .. Pure garbage. Wall street has gained the upper hand by maintaining the dollar as the world reserve currency. Hudson emphasizes the military nature of propping up the dollar. What he means by "Super" in Super Imperialism is the fact that Central Banks & Sovereign Wealth funds have absorbed inflationary US Treasury bonds/bills i.e., tribute has been paid by foreigners for the US to maintain global hegemon status while artificially propping up the domestic economy. Interestingly, the "09" August/September Issue of Foreign Affairs frankly discusses issues which Hudson has been writing about for 40 years.



A whole subsection of economic thought could be based on Hudson's research. I highly recommend MH's website.... view his curriculum vitae/working papers etc to gain further insights.