debt deflation
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Productivity, Compound Interest and Poverty

Feb 10, 2013
"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."Today’s economy is based on theft under the euphemism of "free enterprise." It’s sometimes called “socialism for the rich” because they receive most government subsidy. But in a word, it’s oligarchy.