Michael Hudson, author of Super Imperialism (Pluto, 2003), appeared on The Real News this week to talk about the new superstar bourgeois economist Thomas Picketty and his Capital in the Twenty-First Century, a book which is being lauded by everyone from economists like Martin Wolf to union leaders like Len McClusky.
Hudson praises Picketty’s wealth of evidence presented in the book, but is sharply critical of his failure to talk seriously about alternatives to the status quo:
‘He’s produced a book without any solution, and the free enterprise boys like that. The 1 percent don’t mind being criticized as long as there’s no solution to their problem. And that’s what the critics have come out saying: wait a minute, there are a lot of solutions.’