Corporate Landlords Are Taking Over, Making Life Unaffordable: Economist Michael Hudson Explains Why

Private equity funds and other Wall Street investors are buying up homes across the US and the West, driving up rent and the cost of living. Economist Michael Hudson explains how these corporate landlords are a result of the system of financialized capitalism, dominated by an unproductive rentier class. He is interviewed by host Ben Norton. 

Transcript: https://www.geopoliticaleconomy.report/p/corporate-landlords-rent-michael-hudson  

Michael's website: https://michael-hudson.com/  

Topics 

0:00 Cost of living crisis in West 

0:30 Blackstone: largest US landlord 

1:07 Blackstone CEO is Trump donor 

1:49 Investors buy up US homes 

2:36 Wall Street buys single-family homes 

3:54 Wall Street buys up neighborhoods 

5:31 Homelessness rises in USA 

6:06 Blackstone buys up homes in Spain 

7:34 Introduction to Michael Hudson 

9:12 Highlights 

10:43 Interview starts 

11:58 Feudalism, capitalism, & rentier class 

16:58 Adam Smith, David Ricardo, & Karl Marx 

19:10 Difference between value, price, & rent 

21:33 Bankers, industrialists, & landlords 

27:34 Theory of comparative advantage 

28:20 Problems with economics education 

30:57 Profits vs rent 

32:48 Financialization and GDP 

37:21 Adam Smith in Beijing 

38:47 Peter Thiel defends monopolies 

40:20 China's reform and opening up 

43:06 China's public ownership of finance 

44:25 Need to tax land rent 

50:45 China's industrialization 

53:54 Passive income (ie, rent seeking) 

56:01 Mainstream "junk economics" 

59:07 Outro 

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