The financial sector has succeeded in depicting itself as part of the productive economy, yet for centuries banking was recognized as being parasitic. The essence of parasitism is not only to drain the host’s nourishment, but also to dull the host’s brain so that it does not recognize that the parasite is there.
This is the illusion that much of Europe and the United States suffer under today. The aim of this book is to pierce this illusion and replace junk economics with economics based on reality. In Killing the Host, Michael Hudson argues that financial crises will continue unless we radically transform our economic and political structures, and reclaim the best ideas of classical economics.
Ominous, yet clear-eyed and prophetic, Hudson provides viable solutions to our economic problems, at a time when politicians have shown themselves unable to understand our economy much less fix it.
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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 a Research Associate at the Levy Economics Institute of Bard College. He is the author of Super Imperialism and The Bubble and Beyond.
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