Hudson, Michael
KILLING THE HOST
- ISBN 13:
- 9783981484281
- author:
- Hudson, Michael
- format:
- Paperback
- publisher:
- ISLET
- language:
- English
- Publication Year:
- 2015
- Pages:
- 440
- Dimensions:
- 9.00(w) x 5.70(h) x 0.80(d)
- Genre:
- Economics Textbook
- Condition:
- New
- Availability:
- Item usually sent within 5 working days
Description
Killing the Host: How Financial Parasites and Debt Destroy the Global Economy The global economy has been taken over by a sector that prioritises finance, insurance, and real estate (FIRE) at the expense of industrial capitalism and governments. This phenomenon, known as financialisation, has led to economic polarisation between the 1% and the 99%. The FIRE sector benefits from favourable tax status, which inflates real estate prices while deflating the economy of labor and production. The consequences of this are stark: debt deflation, austerity, and a widening wealth gap. The 2008 bailout saved banks but not the economy, plunging economies such as those in the US, Ireland, Latvia, and Greece into debt deflation. This book explains how debt deflation imposes austerity on economies like the US and Europe, siphoning wealth and income upwards to the financial sector while impoverishing the middle class. Michael Hudson's work continues the discussion on financialisation and its global effects, shedding light on a system that is detrimental to economic stability and social justice.
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