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: 5124

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

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: 2264

Hudson chronicles how the financial sector has become a parasite that has taken over the brain of the US economy.

The Bubble and Beyond

Author: Michael Hudson

Publisher: N.A

ISBN: 9783981484243

Category:

Page: 505

View: 8705

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.
Political Science

The Cancer Stage of Capitalism

Author: John McMurtry

Publisher: Pluto Press

ISBN: 9780745313474

Category: Political Science

Page: 328

View: 8362

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.
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: 5594

Political Science

The Coming First World Debt Crisis

Author: A. Pettifor

Publisher: Springer

ISBN: 0230236758

Category: Political Science

Page: 190

View: 1033

In this book, Ann Pettifor examines the issues of debt affecting the 'first world' or OECD countries, looking at the history, politics and ethics of the coming debt crisis and exploring the implications of high international indebtedness for governments, corporations, households, individuals and the ecosystem.
Business & Economics

Global fracture

the new international economic order

Author: Michael Hudson

Publisher: Pluto Pr

ISBN: 9780745323947

Category: Business & Economics

Page: 296

View: 898

Critique of US economic hegemony by leading US economist.
Business & Economics

Finance as Warfare

Author: Michael Hudson

Publisher: N.A

ISBN: 9781848901858

Category: Business & Economics

Page: 162

View: 6110

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
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: 2752

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.
Economics

America's Protectionist Takeoff 1815-1914

Author: Michael Hudson

Publisher: N.A

ISBN: 9783980846684

Category: Economics

Page: 392

View: 8746

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.
Political Science

Trade Is War

The West's War Against the World

Author: Yash Tandon

Publisher: OR Books

ISBN: 1939293820

Category: Political Science

Page: 222

View: 9696

"This impressive study focuses on Africa, which has suffered hideous crimes. Yash Tandon’s case is a powerful one, and can be extended: The global class war that is institutionalized in the misnamed 'free trade agreements' is also a war against the traditional victims of class war at home. The resistance, in Africa and elsewhere, which Tandon describes here, is a source of hope for the future." —Noam Chomsky "A necessary and timely contribution which goes to the roots of the deep crises we face as humanity." —Vandana Shiva "... understand that 'trade is war' as Yash Tandon beautifully explains in this important book." —Samir Amin Globalization has reduced many aspects of modern life to little more than commodities controlled by multinational corporations. Everything, from land and water to health and human rights, is today intimately linked to the issue of free trade. Conventional wisdom presents this development as benign, the sole path to progress. Yash Tandon, drawing on decades of on-the-ground experience as a high level negotiator in bodies such as the World Trade Organization (WTO), here challenges this prevailing orthodoxy. He insists that, for the vast majority of people, and especially those in the poorer regions of the world, free trade not only hinders development – it visits relentless waves of violence and impoverishment on their lives. Trade Is War shows how the WTO and the Economic Partnership Agreements like the EU-Africa EPA and the Transatlantic Trade and Investment Partnership (TTIP) are camouflaged in a rhetoric that hides their primary function as the servants of global business. Their actions are inflaming a crisis that extends beyond the realm of the economic, creating hot wars for markets and resources, fought between proxies in Africa, Asia, Latin America, the Middle East and now even in Europe. In these pages Tandon suggests an alternative vision to this devastation, one based on self-sustaining, non-violent communities engaging in trade based on the real value of goods and services and the introduction of alternative currencies.
Political Science

Can We Avoid Another Financial Crisis?

Author: Steve Keen

Publisher: John Wiley & Sons

ISBN: 1509513760

Category: Political Science

Page: 140

View: 8487

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.
Political Science

The Death of the Nation and the Future of the Arab Revolution

Author: Vijay Prashad

Publisher: Univ of California Press

ISBN: 0520293266

Category: Political Science

Page: 248

View: 4591

This fast-paced and timely book from Vijay Prashad is the best critical primer to the Middle East conflicts today, from Syria and Saudi Arabia to the chaos in Turkey. Mixing thrilling anecdotes from street-level reporting that give readers a sense of what is at stake with a bird's-eye view of the geopolitics of the region and the globe, Prashad guides us through the dramatic changes in players, politics, and economics in the Middle East over the last five years. “The Arab Spring was defeated neither in the byways of Tahrir Square nor in the souk of Aleppo,” he explains. “It was defeated roundly in the palaces of Riyadh and Ankara as well as in Washington, DC and Paris.” The heart of this book explores the turmoil in Iraq, Syria, and Lebanon—countries where ISIS emerged and is thriving. It is here that the story of the region rests. What would a post-ISIS Middle East look like? Who will listen to the grievances of the people? Can there be another future for the region that is not the return of the security state or the continuation of monarchies? Placing developments in the Middle East in the broader context of revolutionary history, The Death of the Nation tackles these critical questions.

Absentee Ownership and Its Discontents

Critical Essays on the Legacy of Thorstein Veblen

Author: Michael Hudson,Ahmet Oncu

Publisher: N.A

ISBN: 9783981484274

Category:

Page: N.A

View: 5129

10 Essays presented at the International Thorstein Veblen Association conference in Istanbul (2012): "Veblen, Capitalism and Possibilities for a Rational Economic Order." Quotes below from the book: "Most American economists in the early 20th century studied in Germany and were taught that John Stuart Mill's 1848 Principles of Political Economy was the high-water mark of classical thought. However, Mill's reformist philosophy turned out to be "not a goal but a half-way house" toward the Progressive Era's reforms [generally the 1890s to 1920s following the excesses of The Guilded Age]. ... But the classical approach to political economy continued to evolve, above all through Thorstein Veblen." - Michael Hudson "The Veblenian critique calls for anger, but not despair. On the political front, his critique of the ... social order has helped move three generations to take political action against it: first the New Dealers of the 1930s and 1940s, next the counterculture youth of the 1960s and the 1970s and now the egalitarian protesters of the New Millennium. So far they have failed ... [and] the stakes have increased after each failure." -- William M. Dugger (Foreword)
Business & Economics

Trade, development, and foreign debt

a history of theories of polarisation and convergence in the international economy

Author: Michael Hudson

Publisher: Pluto Pr

ISBN: 9780745306667

Category: Business & Economics

Page: 212

View: 6003

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: 1458

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: 9533

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.
Body, Mind & Spirit

The Open-Source Everything Manifesto

Transparency, Truth, and Trust

Author: Robert David Steele

Publisher: North Atlantic Books

ISBN: 1583944435

Category: Body, Mind & Spirit

Page: 215

View: 7328

"Written by a former CIA covert ops and intelligence expert, The Open-Source Everything Manifesto provides a roadmap for empowering the public to return to an informed, engaged democracy of, by, and for the people"--Provided by publisher.
Business & Economics

The Heretic's Guide to Global Finance

Hacking the Future of Money

Author: Brett Scott

Publisher: Pluto Press

ISBN: 9780745333502

Category: Business & Economics

Page: 240

View: 849

Popular anger against bankers and financial speculators has never been greater, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform. As a stockbroker turned campaigner, Brett Scott has a unique understanding of life inside and outside the system. The Heretic's Guide to Global Finance is a practical handbook for campaigners, academics and students who wish to deepen their understanding of the inner workings of the financial sector. It shows how financial knowledge can be used to build effective social and environmental campaigns. Scott covers topics frequently overlooked, such as the cultural aspects of the financial sector, and considers major issues such as agricultural speculation, carbon markets and tar sands financing. The book shows how activists can use the internal dynamics of the sector to reform it and showcases the growing alternative finance movement.

Rent Unmasked

How to Save the Global Economy and Build a Sustainable Future

Author: Fred Harrison

Publisher: Shepheard-Walwyn Publishers

ISBN: 9780856835117

Category:

Page: 304

View: 4414

Rent Unmasked explores the new economic paradigm that policy-makers need to solve global problems in the post-2008 era. With conventional economic theories discredited, the new model must equip governments with tools to re-stabilize societies in a dangerous world. Rent Unmasked explains why one paradigm only qualifies to serve this purpose: the dynamic model that reinstates time and space in economic theorizing. The Flat Earth economics of the neo-classical school is analyzed by the 13 contributors to this volume, which honors the seminal role played by Mason Gaffney, Emeritus Professor of Economics at the University of California (Riverside), in exposing the way in which classical economics was debased to serve rent-seeking interests.