by Michael Hudson, Visiting Distinguished Research Professor, University of Missouri Kansas City. He writes at Michael Hudson.com and New Economic Perspectives.
Editor’s note: Prof. Hudson, in an interview on the Real News Network, discusses how the classical economists of the late 18th and 19th centuries, upon whose theories the great advances in prosperity occurred up to the years immediately following World War II, have had their fundamental teachings totally misrepresented in the recent decades. Hudson suggests that the current economic crisis is the outcome of these changes and misrepresentations.
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