If you want to learn real economics instead of neoliberal junk economics, read Michael Hudson’s books.

What you will learn is that neoliberal economics is an apology for the rentier class and the large banks that have succeeded in financializing the economy, shifting consumer spending power from the purchase of goods and services that drive the real economy to the payment of interest and fees to banks.

His latest book is J is for Junk Economics. It is written in the form of a dictionary, but the definitions give you the precise meaning of economic terms, the history of economic concepts, and describe the

transformation of economics

* from classical economics, where the emphasis was on taxing incomes that are not the product of the production of goods and services,

* to neoliberal economics, which rests on the taxation of labor and production.


Independently I arrived at Hudson’s conclusion that neoliberal economics is a device for ripping off workers and producers in order to convey awards to the rentier class.
Neoliberal economics is a predatory device that justifies the exorbitant incomes of the One Percent while blaming rising debt on those forced into debt-peonage in order to survive.

Hudson’s virtue is that he explains the historical development of debt-peonage and makes it clear that this is the status that the One Percent intends (!!!!!!, d. Red.) for the 99 Percent.

He resurrects classical economics and reformulates economic theory in keeping with the facts on the ground instead of rentier interests.

Hudson is a coauthor of mine. In former times it would have been inappropriate for me to review the work of a colleague. However, the neoliberal apologists for the One Percent are not going to confront themselves with Hudson’s facts. As I do not think that my integrity or Hudson’s is in question, I have no qualms about introducing you to this major work.

Buy the book. Read and study the book. Learn to rise far above corrupt neoliberal economics.



Siehe dazu auch:



J IS FOR JUNK ECONOMICS is an A-to-Z guide that explains

how the world economy really works - and who the winners and losers are.

The book includes more than 400 concise and acerbic entries, several essays, and a full topic index. Expanding on


Prof. Hudson's new book covers contemporary terms that are misleading or poorly understood as well as many important concepts that have been abandoned - many on purpose - from the long history of political economy.

Two key concepts are RENT THEORY and DEBT,

which explain how Unearned Income and the Financial Sector impoverish governments and populations the world over as power and riches flow upward into the hands of the few. Several additional essays provide background for key points and explore today's uncertain political and economic environment.

To understand what's really going on, it's not necessary to re-invent the wheel;
the major issues that guide healthy economies were known to the Ancients and were expanded upon by the classical economists of the 18th and 19th centuries, including Adam Smith, David Ricardo, John Stuart Mill, E. Peshine Smith, Simon Patten, Karl Marx, Thorstein Veblen, and others of many political stripes whose aim was to leave the brutal legacy of feudalism behind.

Their ideas and principles are brought back into the spotlight here. It is hoped that this book will deconstruct today's -value-free, - watered-down and deceptive economics that favor the wealthy,
allowing the next generation to create a successful economy with proper checks and balances that will benefit everyone.

This is a book you will want to refer to again and again.


Über den Autor und weitere Mitwirkende

Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City (UMKC), and Professor of Economics at Peking University in China.

He gives speeches, lectures and presentations all over the world for official and unofficial groups reflecting diverse academic, economic and political constituencies.

Before moving into research and consulting, Prof. Hudson spent several years applying flow-of-funds and balance-of-payments statistics to forecast interest rates, capital and real estate markets for Chase Manhattan Bank and The Hudson Institute (no relation).

His academic focus has been on financial history and, since 1980, on writing a history of debt, land tenure and related economic institutions from the Sumerian period, antiquity, and feudal Europe to the present. Since 1996 as president of the Institute for the Study of Long Term Economic Trends (ISLET), he has written reports and given presentations on balance of payments, financial bubbles, land policy and financial reforms for U.S. and international clients and governments.

He organized the International Scholars Conference on Ancient Near Eastern Economies (ISCANEE) in 1993, and to-date has co-edited the preceedings of six academic conferences on the evolution of property, credit, labor and accounting since the Bronze Age.

His website and blog can be found at michael-hudson.com - Prof. Michael Hudson - Homepage

He has been interviewed on Democracy Now, Marketplace, and Naked Capitalism. Many of his interviews and public appearances can be seen on YouTube.





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