Overview: The Bubble and Beyond:

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The Road from Industrial Capitalism to Finance Capitalism and Debt Peonage Essays on Fictitious Capital, Debt Deflation and the Global Crisis Michael Hudson's new book The Bubble and Beyond can be purchased here. Preface Summary and Analytic Table of Contents Introduction: Today’s Financial Crisis and Economic Theory I. Fictitious Capital and Economic Fictions 1. Two Traditions of Financial Doctrine 2. The Magic of Compound Interest: Mathematics at the Root of the Crisis 3. How Ricardo’s Value Theory Ignored the Role of Debt 4. The Industrialization of Finance and the Financialization of Industry 5. The Use and Abuse of Mathematical Economics 6. The Financial Character of Today’s Crisis II. From Inflated Debts to Debt Deflation 7. Property is Worth Whatever a Bank Will Lend ...

Escape Economics Review

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PAUL CRAIG ROBERTS reviews my book in Escape from Economics. Hudson is totally outside the matrix in which economists imprison themselves. Hudson doesn’t live in the artificial reality of economists or shill for corporations and Wall Street. A person can learn a lot from Hudson. His book, Trade, Development and Foreign Debt (2009) explains how foreign trade and economic development have been used to concentrate economic power in the hands of dominant nations. What is really going on is covered up with do-good verbiage and formal models. In reality, trade and development are ways to colonize countries that think they are independent. (Another good book on this subject is Michel Chossudovsky’s The Globalization of Poverty.) Perhaps the best place to ...