Professor Michael Hudson: New Governor of the Bank of Canada
The offical ad for the upcoming position of the Governor of the Bank of Canada states that: "As an exceptionally well-qualified candidate, you have unquestioned technical competence in monetary policy and, more broadly, macro-economics, coupled with a highly developed understanding of the financial sector, both institutions and markets, domestically and internationally." MICHAEL HUDSON is research professor of economics at University of Missouri, Kansas City, and a research associate of the Levy Economics Institute of Bard College. He is a former Wall Street analyst and consultant as well as president of the Institute for the Study of Long-term Economic Trends (ISLET) and a founding member of International Scholars Conference on Ancient Near Eastern Economies ( ISCANEE). He has served as an economic advisor to the Icelandic, Chinese, Latvian, U.S., Mexican, and Canadian governments; and as consultant to the United Nations Institute for Training and Research (UNITAR), the Institute for Research on Public Policy, and the Canadian Science Council, among other organizations. He has been a consultant to the IRPP (Institute for Research on Public Policy), writing its first report (“Canada in the New Monetary Order”), and also for Canada’s Department of State.
He is a former balance-of-payments economist for Chase Manhattan Bank and Arthur Andersen, and economic futurist for the Hudson Institute (no relation). For Scudder, Stevens & Clark in 1990 he established the world's first Third World sovereign debt fund, which became the second best performing international fund in 1991. He has written or edited more than ten books on the politics of international finance, economic history, and the history of economic thought. It is most important that we find the best candidate for this position, and we believe that Professor Hudson is that candidate. Where he was born should be of no consequence. Canada is a member of the Global community, cosmopolitan by nature. If the Bank of England can hire a Canadian as its Governor, the Bank of Canada should surely be able to hire an American. THEREFORE, we, the undersigned, support the application of Professor Michael Hudson for the position of Governor of the Bank of Canada.