• Business cycles

Killing the Host


Author: Michael Hudson
Publisher: N.A
ISBN: 9783981484281
Category: Business cycles
Page: 440
View: 5282
"The financial sector has succeeded in depicting itself as part of the productive economy, yet for centuries banking was recognized as being parasitic. The essence of parasitism is not only to drain the host's nourishment, but also to dull the host's brain so that it does not recognize that the parasite is there. This is the illusion that much of Europe and the United States suffer under today. The aim of this book is to pierce this illusion and replace junk economics with economics based on reality. In Killing the Host, Michael Hudson argues that financial crises will continue unless we radically transform our economic and political structures, and reclaim the best ideas of classical economics. Ominous, yet clear-eyed and prophetic, Hudson provides viable solutions to our economic problems, at a time when politicians have shown themselves unable to understand our economy much less fix it" --

    • Business & Economics

Killing the Host

How Financial Parasites and Debt Bondage Destroy the Global Economy
Author: Michael Hudson
Publisher: N.A
ISBN: 9781568587370
Category: Business & Economics
Page: 400
View: 8624
Hudson chronicles how the financial sector has become a parasite that has taken over the brain of the US economy.

    • Political Science

Killing the Host

How Financial Parasites and Debt Bondage Destroy the Global Economy
Author: Michael Hudson
Publisher: CounterPunch
ISBN: 0989763757
Category: Political Science
Page: N.A
View: 8792
In Killing the Host, economist Michael Hudson exposes how finance, insurance, and real estate (the FIRE sector) have seized control of the global economy at the expense of industrial capitalism and governments. The FIRE sector is responsible for today¹s extreme economic polarization (the 1% vs. the 99%) via favored tax status that inflates real estate prices while deflating the "real" economy of labor and production. Hudson shows in vivid detail how the Great 2008 Bailout saved the banks but not the economy, and plunged the U.S., Irish, Latvian and Greek economies into debt deflation and austerity. Killing the Host describes how the phenomenon of debt deflation imposes punishing austerity on the U.S. and European economies, siphoning wealth and income upward to the financial sector while impoverishing the middle class.

    • Business & Economics

The Monster

How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis
Author: Michael W. Hudson
Publisher: Macmillan
ISBN: 9781429940047
Category: Business & Economics
Page: 384
View: 5737
Who killed the economy? A page-turning, true-crime exposé of the subprime salesmen and Wall Street alchemists who produced the biggest financial scandal in American history "It's hard to have a guilty conscience if you don't have a conscience. Anything that benefited production - that benefited me and benefited my wallet - I'd do it." The sales force at Ameriquest Mortgage took this philosophy to heart. They watched the Hollywood white-collar-crime flick "Boiler Room" as a training tape, studying how to pitch overpriced deals to unsuspecting home owners. They learned how to forge signatures on mortgage paperwork and create fake documents in "cut-and-paste" operations they dubbed "The Lab" or "The Art Department." In this stunning narrative, award-winning reporter Michael W. Hudson reveals the story of the rise and fall of the subprime mortgage business by chronicling the rise and fall of two corporate empires: Ameriquest and Lehman Brothers. As the biggest subprime lender and Wall Street's biggest patron of subprime, Ameriquest and Lehman did more than any other institutions to create the feeding frenzy that emboldened mortgage pros to flood the nation with high-risk, high-profit home loans. It's a tale populated by a remarkable cast of the characters: a shadowy billionaire who created the subprime industry out of the ashes of the 1980s S&L scandal; Wall Street executives with an insatiable desire for product; struggling home owners ensnared in the most ingenious of traps; lawyers and investigators who tried to expose the fraud; politicians and bureaucrats who turned a blind eye; and, most of all, the drug-snorting, high-living salesmen who tell all about the money they made, the lies they told, the deals they closed. Provocative and gripping, The Monster is a searing exposé of the bottom-feeding fraud and top-down greed that fueled the financial collapse.

J Is for Junk Economics

A Guide to Reality in an Age of Deception
Author: Michael Hudson
Publisher: N.A
ISBN: 9783981484250
Category:
Page: N.A
View: 3604
A companion and follow-up to KILLING THE HOST: HOW FINANCIAL PARASITES AND DEBT DESTROY THE GLOBAL ECONOMY. J IS FOR JUNK ECONOMICS pulls back the curtain on the vocabulary and terms of today's tunnel-visioned, overly-mathematized economic lexicon.

    • Business & Economics

Debt and Economic Renewal in the Ancient Near East


Author: Michael Hudson,Marc Van de Mieroop,Institute for the Study of Long-Term Economic Trends
Publisher: Capital Decisions Limited
ISBN: N.A
Category: Business & Economics
Page: 355
View: 3337

The Bubble and Beyond


Author: Michael Hudson
Publisher: N.A
ISBN: 9783981484243
Category:
Page: 505
View: 1502
PROFESSOR MICHAEL HUDSON is one of the foremost critics of contemporary finance capitalism and the worldwide power "the 1%" weilds because of government tax breaks and other favorable legislation. In THE BUBBLE AND BEYOND, he illuminates how the expansive and successful forces of 19th and 20th century industrial capitalism have been subverted by today's predatory finance capitalism, putting the entire world in a financial mess - and what can be done about it. A confusing labyrinth of geo-political issues impacts economic health and growth, and few are studied in the classroom or given space in the press. There is a way out of the labyrinth, however, as Professor Hudson demonstrates across 20 readable topics. PROFESSOR HUDSON'S most controversial claim is that "Debts that can't be paid, won't be," leaving in question whether or not debt non-payment will lead to worldwide foreclosures - including sell-offs of public domain assets by debt-strapped local and national governments. This is already happening locally and globally - exactly what some of the 1% would like - creating a newly-poor feudalistic society with the 1% collecting all the usage "fees." Alternatively, he suggests that the debts be written down in line with the ability to pay, as has been done by corporations via Chapter 11 bankruptcies and reorganizations throughout a more enlightened modern economic history as well as biblical record. In Professor Hudson's bold view, debt write-downs versus privatization and sell-offs of public domain assets are the economic issues that will dominate politics over the next generation. THE BUBBLE AND BEYOND is a compendium and brief history of economic thought and why it matters not only to Americans, but to people all over the world. You will find that you refer to it again and again as a fount of information, much of which has been out of favor for decades and/or suppressed by the financial interests. Professor Hudson provides chapter and verse, names names, and explains the mistakes and outright fraud that have often been committed in the name of political ideology - by both the right and the left. You will encounter all of the heroes and miscreants of economics, industry, and politics from the Bible and Babylon to present day banksters, misguided Fed policy-makers, and captains of the finance/insurance/real estate (FIRE) sector and the military-industrial complex. In one chapter after another, Professor Hudson tells who did what to whom - as well as who wins and who loses. This updated edition makes it plain where money goes versus where it might go - and ought to go. UPDATED EDITION with a NEW INDEX, LIST OF 47 EXHIBITS (illustrations, charts, graphs and models), a BONUS CHAPTER and BONUS SUMMARY, contemporary quotes, and author pull-out quotes.

    • Business & Economics

Global fracture

the new international economic order
Author: Michael Hudson
Publisher: Pluto Pr
ISBN: 9780745323947
Category: Business & Economics
Page: 296
View: 2665
Critique of US economic hegemony by leading US economist.

    • Economics

America's Protectionist Takeoff 1815-1914


Author: Michael Hudson
Publisher: N.A
ISBN: 9783980846684
Category: Economics
Page: 392
View: 4540
The contribution of the American School of Political Economy (1848 to 1914) to America's wildly successful industrial development has disappeared from today's history books. American protectionists and technology theorists of the day were concerned with securing an economic competitive advantage and conversely, with offsetting the soil depletion of 19th century America's plantation export agriculture. They also emphasized the positive effect of rising wage levels and living standards on the productivity that made the American economic takeoff possible. The American School's "Economy of High Wages" doctrine stands in contrast to the ideology of free traders everywhere who accept low wages and existing productivity as permanent and unchanging "givens," and who treat higher consumption, health and educational standards merely as deadweight costs. Free trade logic remains the buttress of today's financial austerity policies imposed on debtor economies by the United States, the World Bank, and the International Monetary Fund. By contrast, the lessons of the American School of Political Economy can provide a more realistic and positive role model for other countries to emulate - what the United States itself has done, not what its condescending "free-trade" diplomats are telling them to do. The lesson is to adopt the protectionist policies of the late 19th and early 20th centuries that made America an economic superpower. Michael Hudson (Distinguished Professor of Economics, University of Missouri, Kansas City) is a frequent contributor to The Financial Times, Counterpunch, and Global Research.

    • Business & Economics

The Age of Stagnation

Why Perpetual Growth is Unattainable and the Global Economy is in Peril
Author: Satyajit Das
Publisher: Prometheus Books
ISBN: 163388158X
Category: Business & Economics
Page: 337
View: 6365
"Originally published as A banquet of consequences by Penguin Random House Australia in August 2015"--Title page verso.

    • Business & Economics

Finance as Warfare


Author: Michael Hudson
Publisher: N.A
ISBN: 9781848901858
Category: Business & Economics
Page: 162
View: 5723
Michael Hudson is one the world's foremost critics of contemporary financial capitalism. He is also one of a tiny handful of eminent economists who is leading us to look at old questions in startling new ways. Professor Hudson is the author numerous books on international finance and economic history, and a frequent contributor to leading newspapers and public affairs sites. "There are few people alive who have taught me more than Michael Hudson. The incisive and brilliant essays in this book should really be assigned to every first-year student of economics. The fact they never will be is the ultimate testimony to the fact economics has betrayed its own most noble tradition - and Hudson here so magnificently embodies - to become a sheer instrument of power." David Graeber, author of Debt: the First 5,000 Years and co-organizer of Occupy Wall Street "Michael Hudson... I consider to be the best economist in the West." The Saker "Economist's theoretical edifice does not explain economic reality. Economists need to begin anew. Michael Hudson shows them the way." Paul Craig Roberts, Institute for Political Economy

    • Social Science

Merchants of Misery

The Illegal Drug Trade in Canada
Author: Victor Malarek
Publisher: Macmillan _
ISBN: N.A
Category: Social Science
Page: 253
View: 1983

    • History

Public Debt, Inequality, and Power

The Making of a Modern Debt State
Author: Sandy Brian Hager
Publisher: Univ of California Press
ISBN: 0520284666
Category: History
Page: 157
View: 8569
Introduction : public debt, inequality and power -- The spectacle of a highly centralized public debt -- The bondholding class resurgent -- Fiscal conflict : past and present -- Bonding domestic and foreign owners -- Who rules the debt state? -- Conclusion : informing democratic debate -- Appendix : accounting for the public debt

    • Political Science

Can We Avoid Another Financial Crisis?


Author: Steve Keen
Publisher: John Wiley & Sons
ISBN: 1509513760
Category: Political Science
Page: 140
View: 6493
The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever–rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become 'The Walking Dead of Debt', and those that are next in line – including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.

    • Business & Economics

Super imperialism

the origin and fundamentals of U.S. world dominance
Author: Michaël Hudson
Publisher: Pluto Pr
ISBN: 9780745319896
Category: Business & Economics
Page: 425
View: 1658
Investigates the genesis of the US's political and financial domination of today's economic system. 'One of the most important books of this century.' Terence McCarchy, Columbia University

    • Business & Economics

The Production of Money

How to Break the Power of Bankers
Author: Ann Pettifor
Publisher: Verso Books
ISBN: 1786631377
Category: Business & Economics
Page: 192
View: 7854
What is money, where does it come from, and who controls it? In this accessible, brilliantly argued book, leading political economist Ann Pettifor explains in straightforward terms history’s most misunderstood invention: the money system. Pettifor argues that democracies can, and indeed must, reclaim control over money production and restrain the out-of-control finance sector so that it serves the interests of society, as well as the needs of the ecosystem. The Production of Money examines and assesses popular alternative debates on, and innovations in, money, such as “green QE” and “helicopter money.” She sets out the possibility of linking the money in our pockets (or on our smartphones) to the improvements we want to see in the world around us.

    • Political Science

The Cancer Stage of Capitalism


Author: John McMurtry
Publisher: Pluto Press
ISBN: 9780745313474
Category: Political Science
Page: 328
View: 3635
In this bold look at the uncontrolled spread of global capitalism, John McMurtry, professor of philosophy at the University of Guelph, develops his analysis of modern capitalism as a cancer. Its invasive growth, he argues, threatens to break down our society's immune system and--if not soon restrained--could reverse all the progress that has been made toward social equity and stability.John McMurtry traces the causes of this global disorder back to the mutating assumptions of market theory that now govern the world's economy. He diagnoses the malaise as a pathologist would a biological cancer, tracking the delinked circuits of the global system's monetised growth as a carcinogenic disorder at the social level of life-organization. In the wide-lensed tradition of Adam Smith, Marx and Keynes, McMurtry cuts across academic disciplines and boundaries to penetrate the inner logic of the system's problems.Far from pessimistic, he argues that the way out of the global crisis is to be found in an evolving substructure of history which provides a common ground of resolution across ethnic and national divisions.

    • Debts, Public

Finance Capitalism and Its Discontents


Author: Michael Hudson
Publisher: N.A
ISBN: 9783981484212
Category: Debts, Public
Page: 286
View: 8024
This book contains the most important interviews and speeches that Prof. Hudson has given over the past decade (2003-2012). They span the political spectrum from COUNTERPUNCH.COM and KPFK radio's GUNS AND BUTTER to to iTULIP.COM and SANKT GEORGE in Berlin. It also includes his now-famous Rlmini, Italy, speeches that were given at a packed sports arena in early 2012 on the topic of how finance capitalism is pushing the world, starting with Europe, into austerity and neo-feudalism.

    • Business & Economics

The Company of Strangers

A Natural History of Economic Life
Author: Paul Seabright
Publisher: Princeton University Press
ISBN: 9781400834785
Category: Business & Economics
Page: 400
View: 1720
The Company of Strangers shows us the remarkable strangeness, and fragility, of our everyday lives. This completely revised and updated edition includes a new chapter analyzing how the rise and fall of social trust explain the unsustainable boom in the global economy over the past decade and the financial crisis that succeeded it. Drawing on insights from biology, anthropology, history, psychology, and literature, Paul Seabright explores how our evolved ability of abstract reasoning has allowed institutions like money, markets, cities, and the banking system to provide the foundations of social trust that we need in our everyday lives. Even the simple acts of buying food and clothing depend on an astonishing web of interaction that spans the globe. How did humans develop the ability to trust total strangers with providing our most basic needs?

    • Business & Economics

Zero Down Your Debt

Reclaim Your Income and Build a Life You'll Love
Author: Holly Porter Johnson,Greg Johnson
Publisher: Mango Media Inc.
ISBN: 1633534804
Category: Business & Economics
Page: 188
View: 5630
How to get out of debt and enjoy debt free living with the powerful "Zero-Sum Budget" method Zero Down Your Debt ─ How to manage money and experience debt free living: Getting into debt is a piece of cake, but getting out? That’s the hard part. Fortunately, award-winning authors Holly Porter Johnson and Greg Johnson offer actionable tips and advice in their new book on how to get out of debt and enjoy debt free living. The secret? The “zero-sum budget”— the black belt of budgeting methods and the answer to how to get out of debt and pay off that debt quickly. They should know: It helped them wipe out $50,000 of debt. How to get out of debt: With just a pen and a piece of paper in your arsenal, you’ll learn how to implement a zero-sum budget and become debt-free – once and for all. The zero-sum budget’s primary tenets are giving every single dollar earned a purpose — whether it’s for bills, debt repayment or savings — and using last month’s earnings to cover this month’s bills. All you need is the know-how, some willpower, and a positive attitude to transform your financial situation. Let Holly and Greg Johnson show you how to put zero-sum budgeting to work for you. In Zero Down Your Debt you will learn to: • Unlock the powerful potential of your paycheck to help you save more and get ahead faster • Seize control of your money by creating a simple monthly plan that actually works • Understand the root causes of your debt and how to get out of debt • Use a step-by-step plan to eliminate your debt once and for all and enjoy debt free living • Identify and avoid budget vampires that drain your bank account and wreak havoc on your savings • Prepare for unexpected expenses and survive financial emergencies