This is a weekly thread in which we read through books on and related to imperialism and geopolitics. Last week's thread is here.
Welcome to the seventh week of Michael Hudson's Super Imperialism: The Origin and Fundamentals of US World Dominance! I'm reading the Third Edition.
We are reading one chapter per week, meaning we will finish in June. Obviously, you are totally free to read faster than this pace and look at my/our commentary once we've caught up to you.
Every week, I will write a summary of the chapter(s) read, for those who have already read the book and don't wish to reread, can't follow along for various reasons, or for those joining later who want to dive right in to the next book without needing to pick this one up too. I will post all my chapter summaries in this final thread, for access in one convenient location. Please comment or message me directly if you wish to be pinged for this group.
This week, we will be reading Chapter 6: Bretton Woods: The Triumph of US Government Finance Capital, 1944-1945 which is approximately 27 pages.
So this is where it all comes together. Instead of squeezing Europe to pay the US, which ostensibly failed in the 20s and contributed to WW1, they're instead squeezing the global south to pay Europe to pay the US. Hudson doesn't mention this, but this arrangement also helps prevent Europe from falling to revolution or influence from the USSR. It wasn't just that the US learned from their mistakes after WW1, they also had another economic system to compete with.