Financial Time’s Best Books of 2018

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Included in Martin Wolf's (FT) favourite books of 2018: . . . and Forgive Them Their Debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year, by Michael Hudson, ISLET-Verlag, RRP $29.95 The American economist Hudson has written a fascinating book on the historical antecedents of the Mosaic debt jubilee. The work of Assyriologists has shown that by the third millennium BC, the rulers of the ancient Near East understood the necessity of repeated debt forgiveness. The alternative was, he writes, “economic polarisation, bondage and collapse”. The relevance of this history to the world of today seems clear: debt is necessary; too much debt is disastrous.

Le Petit Bréviaire Economique de Michael Hudson

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As published on Journal du MAUSS INTRODUCTION: Désordre définitionnel du social et vocabulaire de la tromperie « Il est certain qu’en dernière analyse une langue doit son déclin à des causes politiques et économiques. (…) Elle devient laide et imprécise parce que notre pensée est stupide, mais ce relâchement constitue à son tour une puissante incitation à penser stupidement. Pourtant ce processus n’est pas irréversible. (…) Si l’on se débarrasse des mauvaises habitudes, on peut penser plus clairement, et penser clairement est un premier pas, indispensable, vers la régénération politique. »  - George Orwell, « La politique et la langue anglaise » (1946) " Vous pouvez duper certaines personnes tout le temps. Ce sont celles sur lesquelles vous devriez vous concentrer" - George W. Bush (2001) Confucius pensait que les troubles sociaux commençaient par l'incapacité de nommer les choses par ...


…and forgive them their debts

I'm very excited to announce that my new book, ...and forgive them their debts: Lending, Foreclosure and Redemption — From Bronze Age Finance to the Jubilee Year (ISLET-Verlag Dresden), is available now! Thank you! You can learn more about the book below. Michael Copy for book description and advance praise: ...and forgive them their debts Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year In ...and forgive them their debts, renowned professor of economics, Michael Hudson – and one of the few who could see the 2008 financial crisis coming – takes us on an epic journey through the economies of ancient civilizations. For the past 40 years in conjunction with the Harvard Peabody Museum, he and his colleagues have documented the archeological record and history of debt, and how societies have ...

Germany’s choice

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Introduction to GERMAN edition of Super Imperialism, 2017. In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity. The reality since World War I is that the United States has taken the lead in shaping the international financial system to promote gains for its own bankers, farm exporters, its oil and gas sector, and buyers of foreign resources – and most of all, to collect on debts owed to it. Each time this global system has broken down over the past century, the major destabilizing force has been American over-reach and the drive by its bankers and bondholders ...

Paul Craig Roberts on Junk Economics

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My friend and colleague kindly reviews J is for Junk Economics. As he says... The World’s Best Economist Paul Craig Roberts If you want to learn real economics instead of neoliberal junk economics, read Michael Hudson’s books. What you will learn is that neoliberal economics is an apology for the rentier class and the large banks that have succeeded in financializing the economy, shifting consumer spending power from the purchase of goods and services that drive the real economy to the payment of interest and fees to banks. His latest book is J is for Junk Economics. It is written in the form of a dictionary, but the definitions give you the precise meaning of economic terms, the history of economic concepts, and describe the transformation of economics from classical economics, where the emphasis was ...

J is For Junk Economics: A Guide to Reality in an Age of Deception

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PRESS RELEASE We are proud to offer the latest work from Prof. Michael Hudson, Distinguished Professor of Economics, University of Missouri at Kansas City (UMKC). A follow-on to his successful Killing the Host: How Financial Parasites and Debt Destroy the Global Economy (2015), J is for Junk Economics: A Guide to Reality in an Age of Deception is an A-to-Z guide that explains how the world economy really works – and who are the winners and losers. In more than 400 concise and acerbic entries, several essays, and a full topic index, the book covers contemporary terms that are misleading or poorly understood as well as many important concepts that have been abandoned – many on purpose – from the official economics curriculum. The lessons of history cannot be learned if we ...

Book Launch Washington, Baltimore

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J is for Junk Economics is launching in the following cities, where I will be discussing how mainstream economic vocabulary has been contorted to obscure the manner in which financial giants extract wealth from rest of the economy. This A-Z user's guide will serve as critical reading for those seeking to understand the broader economic system during this new "post-fact" era. Feb 21, 7 - 9pm: Busboys and Poets, Cullen Room, Washington DC Feb 22, 12.30 - 2pm: The Democracy Collective, Washington DC Feb 22, 7.30 - 9.30pm: Red Emma's, Baltimore    

J is For Junk Economics – Order Now

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Professor Hudson's companion and follow-up to KILLING THE HOST: HOW FINANCIAL PARASITES AND DEBT DESTROY THE GLOBAL ECONOMY. The new book, J IS FOR JUNK ECONOMICS is now listed on Amazon for pre-order. Special pre-publication offer: Only $24.95 (for US dollar orders) until March 1, 2017. An essential building block for society's economic literacy, the book is an A-to-Z guide to the vocabulary in use in today's tunnel-visioned, overly-mathemetized economic lexicon. It includes terms and concepts abandoned - many on purpose - from the long history of political economy. The book builds on The Economic Insider’s Dictionary listings that were so popular on this site. It explains how the world economy really works with cunning historical insight on the doublespeak we endure. Several additional essays provide key insights to today's devolving social ...

Killing the Host – the book

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The book can be ordered in paperback or as an ebook:     KILLING THE HOST exposes how finance, insurance, and real estate (the FIRE sector) have gained control of the global economy at the expense of industrial capitalism and governments. The FIRE sector is responsible for today’s 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. 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. This book describes how the phenomenon of debt deflation imposes austerity on the U.S. and European economies, siphoning wealth and income upward to the financial sector while impoverishing the middle class.   The Table of Contents is as follows:   Killing the Host: ...

Book review: Killing the Host

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The first of hopefully many book reviews. Thanks to those who have already reviewed it on Amazon, we are off to a good start. Pam Martens from Wall St On Parade writes: The riveting writer, Michael Hudson, has read our collective minds and the simmering anger in our hearts. Millions of American have long suspected that their inability to get financially ahead is an intentional construct of Wall Street’s central planners. Now Hudson, in an elegant but lethal indictment of the system, confirms that your ongoing struggle to make ends meet is not a reflection of your lack of talent or drive but the only possible outcome of having a blood-sucking financial leech affixed to your body, your retirement plan, and your economic future. In his new book, “Killing the Host,” Hudson hones ...