October 20th 2018


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Articles from this issue:

COVER STORY Internal strife at Fortress ABC by Peter Westmore

EDITORIAL The state is separating children from families

CANBERRA OBSERVED Liberals are bare favourites for Wentworth

DEREGULATION Sugar growers are getting burned on churned-up playing field

EUROPE Attempt to discipline Hungary divides the EU

CHINA Social Credit System gives complete control of every citizen

EDUCATION Curriculum refinements will not fix schools

BANKING ROYAL COMMISSION Banks' failures are a symptom of social malaise

HISTORY Moby Dick and American exceptionalism

SHAKESPEARE Tick-tock: clues to the timeless appear of the Bard

INTERNATIONAL AFFAIRS Trump to UN: we'll do it our way; you do it yours

MUSIC Well-tempered scale: might put an alien in a bad temper

CINEMA Alpha: Beautiful beginnings

BOOK REVIEW Essays towards reconstruction

BOOK REVIEW Can society survive the decay of religion?

LETTERS

Books promotion page

Killing the Host: How Financial Parasites and Debt Destroy the Global Economy

Michael Hudson

$80.25


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(ISLET, Kansas City)
Paperback: 440 pages
ISBN: 9783981484281
Price: AUD$80.25

Book description

Killing the Host exposes how finance, insurance, and real estate (the FIRE sector) have gained control of the global economy at the expense of industrial capitalism and governments. The FIRE sector is responsible for today’s economic polarisation (the 1 per cent v the 99 per cent) via favoured tax status that inflates real estate prices while deflating the “real” economy of labour and production. The Great 2008 Bailout saved the banks but not the economy, and plunged the U.S., Irish, Latvian and Greek economies into debt deflation and austerity. This book describes how the phenomenon of debt deflation imposes austerity on the U.S. and European economies, siphoning wealth and income upward to the financial sector while impoverishing the middle class.

About the author

Michael Hudson, the president of the Institute for the Study of Long-Term Economic Trends, is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is also a Research Associate at the Levy Economics Institute of Bard College and is the author of Super Imperialism and The Bubble and Beyond.


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