Super imperialism

In 1949 the United States held three-Quarters of the world's gold; by 1960 it had become a debtor nation. And yet, the United States has built history's most powerful and affluent empire. Its techniques for world domination remained, at first, the conventional devices of the economic superstate. In recent years, however, the United States has sophisticated its strategy to the point here, although fallen into serious debt, it has retained and even expanded its dominance. The United States has pioneered a new form of imperialism in which the assets of its competitors have been employed for American ends. The or now calls the tune for the creditor.

Terence McCarthy, in his Introduction, calls Hudson's analysis of the Debtor superstate “one of the most important books of this century. It is the first work to synthesize the new and different form which capitalist imperialism has assumed since Lenin wrote.”

Michael Hudson teaches international and monetary economics at The New School for Social Research, Graduate Faculty. He has published articles in Ramparts, the Journal of International Affairs, Commonweal, Cross Currents and the Review of Social Economy, in addition to specialized monographs on balance-of-payments theory and accounting. He has worked as a Balance-of-Payments analyst for the Chase Manhatten Bank and for the accounting firm of Arthur Andersen, and as a senior economist for the Continental Oil Com.

In addition, he has lectured at the Institute for Policy Studies in Washington, D.C, before the National Association of Business Economists in New York, and elsewhere throughout the United States. He is currently writing a history of international trade and investment theory, and a study of the economic origins of the American Civil War.

see michael-hudson.com