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Tag: Islet


kenteegardin (CC BY-SA 2.0)

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.”

Posted on Feb 9, 2013 READ MORE



walknboston (CC BY 2.0)

How the Rentier Class Cannibalizes the Economy

Rather than mobilizing savings to fund new industries, the banking system that comprises the financial, insurance and real estate sectors merely loads the economy down with debt.

Posted on Jan 11, 2013 READ MORE



j3net (CC BY-SA 2.0)

The Fiscal Cliff: An Opportunity for a ‘Deceptive Economic Theory’

Economists predicted the fighting would last six months when World War I broke out in 1914. Wars were too expensive to be sustained, and the approaching fiscal cliffs would soon enough force the nations involved to negotiate a peace treaty. But they didn’t, because those governments simply printed more money, Michael Hudson writes in the first of a series at CounterPunch.

Posted on Jan 1, 2013 READ MORE


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