Trade, Development and Foreign Debt

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Focusing on the historical context of trade and economic thought, Michael Hudson critiques mainstream free-trade ideologies for neglecting protectionist strategies that shaped U.S. and European policies. He highlights the overlooked significance of war financing in economic discussions and argues that current IMF-style austerity measures exacerbate debt issues for "client" nations. By dismissing crucial factors like emigration and technology transfer, contemporary policies concentrate power among dominant nations, undermining global welfare. Hudson is a noted economist and contributor to various financial publications.