Truthdig - Tag - Debt Deflation

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Tag: Debt Deflation

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Debt Is the Problem

It’s not the kind created by government spending on social programs, however, economist Michael Hudson says.

Posted on Mar 15, 2013 READ MORE

ISLET

Productivity, Compound Interest and Poverty

“Today’s economy is based on theft under the euphemism of ‘free enterprise,’ ” writes Michael Hudson in the first chapter of his new book “Finance Capitalism and its Discontents.” “It’s sometimes called ‘socialism for the rich’ because they receive most government subsidy. But it’s not the kind of socialism that people talked about a hundred years ago. It is a travesty of social democracy and socialism. In a word, it’s oligarchy.”