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J IS FOR JUNK ECONOMICS: A GUIDE TO REALITY IN AN AGE OF DECEPTION, by Michael Hudson
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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 KILLING THE HOST: HOW FINANCIAL PARASITES AND DEBT DESTROY THE GLOBAL ECONOMY, 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.
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Product details
Paperback: 406 pages
Publisher: ISLET (February 21, 2017)
Language: English
ISBN-10: 3981484258
ISBN-13: 978-3981484250
Product Dimensions:
6.7 x 0.8 x 9.6 inches
Shipping Weight: 1.5 pounds (View shipping rates and policies)
Average Customer Review:
4.3 out of 5 stars
27 customer reviews
Amazon Best Sellers Rank:
#175,504 in Books (See Top 100 in Books)
,I am a 55 yr old that doesn't have a college degree and I found it very easy to understand the concepts and the choice we have as a society . With the information and the understanding this book gives you it is easy to see how this has played out over the last 40 yrs and continues to play out .The Steven Moores and Art Laffers that are always on MSM gives one side of the argument but you never see the other side of the argument and that is a shame I once believed in regonomics because I didn't understand fully what it meant I do now thank you .This book gives you a understanding and a choice of what system we should use the one that gave America the biggest middle class the world had ever seen or the one we have now !
This is a timely, amazing book that everyone should read.Economists get hugely rewarded for espousing policy beliefs that increase the wealth of the rich, so it's hard to find modern economic thought that actually helps the middle class. Michael Hudson has been an economist of the people for decades even though it's been a constant burden on his career. He is a man who puts personal advancement behind academic honestly; a rarity in our times.Kudos Mr. Hudson!
Excellent analysis by Mr. Hudson. Now, when I read any financial commentary, I immediately understand what is being said and what the intent of the commentor is - false narrative or otherwise. It's really a shame that that the U.S. financial system is so malicious and attempt to misdirect attention on itself through misinformation ... After reading this, I don't see how the U.S. can survive maintaining the current system - the end game seems to be that everyone dies of starvation and exposure and only those in the financial industry survive.
I like that the Author really understands economic history and made me realize I didn't understand Adam Smith at all. I'd consider myself more on the right wing side of things, but this author has won me over with how logical and supported his arguments are. I only take a star off because I feel like the Author repeats himself a lot, and spends too much time dismantling economic systems and not enough time going into how to make better ones. I'd really enjoy hearing as in depth a solution to economic issues as he did with the critique. As for repeating himself it seems that often many letters go back the same thing, finance and insurance are destroying the economy. That's fine but I got the message after the first 5 times I read it. Still though, this is the only left wing economist I respect and I've bought multiple books from him. These books are full of information you wont hear elsewhere.
This book helps folks understand what has happened to the economy and how those at the top have rigged the system in their favor at the expense of ordinary people.
It doesn't get much better than Michael Hudson. Great book.
Dr. Hudson's message is invaluable, in illustrating how the classical economics of Adam Smith and his successors has been turned upside-down by the Chicago School and the neos - both con and lib. He explains that today's onerous taxation of labor and of industrial production is the opposite of their prescription for a sound, durable economy, how the unproductive activity of the FIRE sector goes untaxed, and how it has, in fact, completely taken control of today's America and appropriated virtually all of the "wealth" generated in recent years for The One Per Cent.Several interviews and essays can be found online in which Hudson outlines these principles clearly and succinctly. Unfortunately, this lens, through which every alphabetical entry is viewed, results in a stpifying amount of repetition. His denunciation of parasitic rentiers, with only minor rewording, appears literally dozens of times. I would not have thought that this amount of redundancy could be found between a single pair of book covers. This text also does not appear to have benefited from an editor, and contains numerous typos and instances of sloppy wording.I'm glad to understand these concepts, thanks to Michael Hudson, and this volume will remain on my shelf as a valuable reference book, but it will try the patience of any sentient reader.Did I mention that it is redundant?
This is one of the best books I've ever read. It is wonderfully clear and sharply stated - everybody should have read it before leaving school so they would have some chance of understanding the world they've been spawned in. It even induces occasional wry laughs...
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