Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of many books, including The Bubble and Beyond, and Finance Capitalism and its Discontents, Killing the Host- How Financial Parasites and Debt Destroy the Global Economy, and most recently J is for Junk Economics: A Survivor's Guide to Economic Vocabulary in an Age of Deception.
A research team from Columbia University's Mailman School of Public Health in New York
estimates 875,000 deaths in the United States in year 2000 could be attributed to social
related to poverty and income inequality.
According to U.S. government statistics, 2.45 million Americans died in the same year. When compared to the Columbia research team's finding, social deprivation could account for some 36% of the total deaths in 2000.
"Almost all of the British economists of the late 18th century said when you have poverty, when you have a transfer of wealth to the rich, you're going to have shorter lifespans, and you're also going to have emigration," says Michael Hudson, Distinguished Research Professor of Economics at the University of Missouri-Kansas City.
Many countries, such as Russia, the Baltic States, and now Greece, have seen a massive outflow of their populations due to worsening social conditions after the implementation of neoliberal policy.
Hudson predicts the United States will undergo the same trend, as greater hardship results from the passage of the Trans-Pacific Partnership, changes to social security, and broader policy shifts due to prospective appointments to the U.S. Supreme Court and the next presidential cabinet.
"Now, the question is, in America, now that you're having as a result of this polarization shorter lifespans, worse health, worse diets, where are the Americans going to emigrate? Nobody can figure that one out yet," says Hudson.
transcriptSHARMINI PERIES, TRNN: Its the Real News Network. Im Sharmini Peries coming to you from Baltimore.After decades of sustained attacks on social programs and consistently high unemployment rates, it is no surprise that mortality rates in the country have increased. A research team from Columbia Universitys Mailman School of Public Health in New York has estimated that 875,000 deaths in the United States in the year 2000 could be attributed to clusters of social factors bound up with poverty and income inequality. According to U.S. government statistics, some 2.45 million Americans died in the year 2000, thus the researchers estimate means that social deprivation was responsible for some 36 percent of the total deaths that year. A staggering total.Now joining us to discuss all of this from New York City is Michael Hudson. Michael is a Distinguished Research Professor of Economics at the University of Missouri Kansas City. His latest book is Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy. Michael, good to have you with us.MICHAEL HUDSON: Good to be back here.PERIES: So, Michael, what do you make of these recent research and what its telling us about the death total in this country?HUDSON: What it tells is almost identical to what has already been narrated for Russia and Greece. And whats responsible for the increasing death rates is actually neoliberal economic policy, neoliberal trade policy, and the polarization and impoverishment of a large part of society. After the Soviet Union broke up in 1991, death rates soared, lifespans shortened, health standards decreased all throughout the Yeltsin administration, until finally President Putin came in and stabilized matters. Putin said that the destruction caused by neoliberal economic policies had killed more Russians than all of whom died in World War II, the 22 million people. Thats the devastation that polarization caused there.Same thing in Greece. In the last five years, Greek lifespans have shortened. Theyre getting sicker, theyre dying faster, theyre not healthy. Almost all of the British economists of the late 18th century said when you have poverty, when you have a transfer of wealth to the rich, youre going to have shorter lifespans, and youre also going to have immigration. The countries that have a hard money policy, a creditor policy, people are going to emigrate. Now, at that time that was why England was gaining immigrants. It was gaining skilled labor. It was gaining people to work in its industry because other countries were still in the post-feudal system and were driving them out. Russia had a huge emigration of skilled labor, largely to Germany and to the United States, especially in information technology. Greece has a heavy outflow of labor. The Baltic states have had almost a 10 percent decline in their population in the last decade as a result of their neoliberal policies. Also, health problems are rising.Now, the question is, in America, now that youre having as a result of this polarization shorter lifespans, worse health, worse diets, where are the Americans going to emigrate? Nobody can figure that one out yet. Theres no, seems nowhere for them to go, because they dont speak a foreign language. The Russians, the Greeks, most Europeans all somehow have to learn English in school. Theyre able to get by in other countries. Theyre not sure where on earth can the Americans come from? Nobody can really figure this out.And the amazing thing, whats going to make this worse, is the trade, the Trans-Pacific trade agreement, and the counterpart with the Atlantic states. In todays news theres news that President Obama plans to make a big push for the Trans-Pacific trade agreement, essentially the giveaway to corporations preventing governments from environmental protection, preventing them from imposing health standards, preventing them from having cigarette warnings or warning about bad food. Obama says he wants to push this in after the election. And the plan is the Republicans also are sort of working with them and saying okay, were going to wait and see. Maybe Donald Trump will come in and hell really do things. Or maybe we can get Hillary, who will move way further to the right than any Republican could, and bring the Congress.But lets say that we dont know whats happening after the elections, and the Republicans dont want a risk. Theyre going to do a number of things. Theyre going to approve Obamas Republican nominee to the Supreme Court that hes already done, figuring, well, maybe Hillary will put in someone worse, or even Trump may put in someone worse. They may go along, at this point, with ratifying a trade agreement thats going to vastly increase unemployment here, especially in industrial labor, turning much of the American industrial urban complex into a rust belt. And theyre also talking about an October surprise or an early November surprise. Its the last chance that Obama has, really, to start a war with Russia.And theres Stephen Cohen and a number of other sites have warned that theres going to be a danger when they put in the atomic weapons in Romania. President Putin has said this is a red line. Were not going to warn. We dont have an army. We can only use atomic weapons. So you have danger coming not only from domestic decline in population, you have a real chance of war. And Obama has stepped things up. Hillary has, I think, almost announced that she is going to appoint Victoria Nuland as secretary of state, and Nuland is the person who was pushing the Ukrainian fascists in the [inaud.] assassinations and shootout.So it looks, this trend looks very bad. If you want to see where America is going demographically, best to look at Greece, Latvia, Russia, and also in England. A Dr. Miller has done studies of health and longevity, and hes found that the lower the income status of any group in England, the shorter the lifespan. Now, this is very important for the current debate about Social Security. Youre having people talk about extending the Social Security age because people are living longer. Whos living longer in America? The rich are living longer. The wealthy are living longer. But if you make under $30,000 a year, or even under $50,000 a year, youre not living longer.So the idea is how do we avoid having to pay Social Security for the lower-income people, you know, the middle class and the working class that die quicker, and only pay social security for the wealthier classes that live longer? Nobodys somehow plugged this discussion of lifespans and longevity into the Social Security debate that Obama and Hillary are trying to raise the retirement age, to ostensibly save Social Security. By save Social Security she means to avoid taxing the higher brackets and paying for Social Security out of the general budget, which of course would entail taxing the higher-income people as well as the lower-income people.PERIES: All right, Michael. Thank you for your report today, and we look forward to seeing you next week.HUDSON: Thank you.PERIES: And thank you for joining us on the Real News Network.
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