English

Super Imperialism: The Origin and Fundamentals of U.S. World Dominance. Second Edition

Michael Hudson is an American economist, professor of economics at the University of Missouri in Kansas City and a researcher at the Levy Economics Institute at Bard College, former Wall Street analyst, political consultant, commentator and journalist. In 1972 Hudson published his first major book, "Super Imperialism". The book covers the development of American imperialism since the beginning of the first world war. The creation of the Bretton Woods system, which was the main result of the second world war, gave the US world domination in the financial sector. In the early 1970-ies, after abandoning the dollar-gold line, US created a unique situation when US Treasury bonds became the sole basis for global reserves and foreign governments had no choice but to finance the budget deficit in the US, and hence their military expenditures. The second edition includes also twenty-first century analysis.

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