The Insider’s Economic Dictionary: S Is for Saint-Simon

By Michael Hudson Aug 9, 2014 Sex: The topic that has proved strong enough to displace religious and academic discussion about property and wealth as the driving force in human affairs and evolution. Dig deeper ( 8 Min. Read )

The Insider’s Economic Dictionary: R Is for Rentier

By Michael Hudson Apr 14, 2014 Race to the bottom: A term for dog-eat-dog competition by which countries compete by cutting wage levels so as to produce in the cheapest market, not by raising wages and labor productivity. Dig deeper ( 8 Min. Read )

The Insider’s Economic Dictionary: P Is for Ponzi

By Michael Hudson Apr 13, 2014 Parasitism: In biology, parasites develop a strategy of gaining control of the host’s brain in order to obtain nourishment by masquerading as its natural progeny or as a part of its body. For economies, the brain in question is the government. Dig deeper ( 11 Min. Read )

N Is for Neo-Serfdom, O for Offshore Banking

By Michael Hudson Jan 25, 2014 Neoliberalism: The philosophy that public ownership and regulation is inherently less efficient than management by financial operators. Dig deeper ( 5 Min. Read )

M for Marginalism

By Michael Hudson Jan 25, 2014 Money: All money is credit in one way or another. But today it is government-backed or government-created credit, as its defining characteristic is the government’s willingness to accept it in payment of taxes or other public fees. Dig deeper ( 8 Min. Read )

The Insider’s Economic Dictionary: L Is for Land

By Michael Hudson Jan 19, 2014 Labor capitalism: A term popularized by Margaret Thatcher to describe an economy in which workers became shareholders but not managers. Labor’s role is that of the exploited party, not the beneficiary. "Labor" is to “labor capitalism” as “lamb” is to “lamb-chop.” Dig deeper ( 4 Min. Read )

J Is for Jubilee, K for Kleptocrats

By Michael Hudson Dec 28, 2013 Jubilee Year: In Judaic Law (Leviticus 25), a Clean Slate to be proclaimed every 50 years annulling personal and agrarian debts, liberating bond-servants to rejoin their families, and returning lands that had been alienated under economic duress. Dig deeper ( 3 Min. Read )

The Insider’s Economic Dictionary: I Is for Ideology

By Michael Hudson Nov 30, 2013 Ideology: A set of assumptions so appealing that one looks at their abstract logic rather than how the world actually works. (See Insanity.) Dig deeper ( 7 Min. Read )

The Insider’s Economic Dictionary: H Is for Half-Life

By Michael Hudson Nov 24, 2013 Hubris: A Greek term meaning overgrowth or proliferation, an addiction to power involving abusive behavior toward others, above all by victimizing people economically, typically as creditors. Dig deeper ( 2 Min. Read )

The Insider’s Economic Dictionary: G Is for Groundrent

By Michael Hudson Nov 17, 2013 Government: This social control function historically has been provided by public institutions. The modern and indeed, ancient role of government is to promote security, equality under the law, economic stability and fairness, and to provide legal redress against injurious acts so as to prevent economic polarization from downgrading the status of citizens. Dig deeper ( 3 Min. Read )

The Insider’s Economic Dictionary: F Is for FIRE Sector

By Michael Hudson Sep 23, 2013 Free markets: Markets dominated by the financial and propertied classes whose objective is to secure all discretionary income for themselves, ultimately by asset stripping, leaving the economy without freedom of choice except to pay the rentier class. Dig deeper ( 6 Min. Read )

The Insider’s Economic Dictionary: E Is for Earned Income

By Michael Hudson Sep 20, 2013 Economist: Originally a member of the Physiocratic School (L’Économistes) who sought to replace France’s proliferation of excise and income taxes with a land tax. For modern economists' general methodology, see Junk Science. Dig deeper ( 5 Min. Read )