D@W's Paul Sliker and Dante Dallavalle talk with Michael Hudson, one of the world’s six economists who accurately predicted the 2007-2008 financial crisis. His new book, J is for Junk Economics, reveals how the mainstream economic vocabulary has been turned around in an Orwellian way to mean just the opposite of what words used to mean. Michael explains how the media and academia use well-crafted euphemisms to conceal how the economy really works, the economy under Obama vs. Trump, and what might be coming next.
Democracy at Work's Paul Sliker and Dante Dallavalle talk with Michael Hudson, one of the world’s six economists who accurately predicted the 2007-2008 financial crisis. His new book, J is for Junk Economics, reveals how the mainstream economic vocabulary has been turned around in an Orwellian way to mean just the opposite of what words used to mean. Michael explains how the corporate media and academia use well-crafted euphemisms to conceal how the economy really works, the economy under Obama vs. Trump, and what might be coming next.
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Praise for the book:
"There are few people alive who have taught me more than Michael Hudson. [His] incisive and brilliant essays... should be assigned to every first year student of economics."
— David Graeber, author of Debt: The First 5,000 Years and co-organizer of Occupy Wall Street
"A dictionary of Junk Economics is a concept so good I wish I'd thought of it, but there's no better person than Michael Hudson to write it. There's so much junk, and it deserves his classically-informed barbs linking today's neat, plausible, and wrong economics to the Sophists of Ancient Greece, the philosophers-for-hire who used superficially plausible logic to distract discussion away from real substance."
— Steve Keen, economist and author of Debunking Economics
"Michael Hudson is the best economist in the world... Readers often ask me how they can learn economics. My answer is to spend many hours with Hudson's book [Killing The Host]. First, read the book through once or twice in order to get an idea of what is covered. Then study it closely section by section. When you understand the book, you will understand economics better than any Nobel Prize-winning economist. Many current events cannot be understood independently of Hudson's explanation of the financialized Western economy."
— Paul Craig Roberts, former under-secretary of the U.S. Treasury (Reagan Administration) and author of The Failure of Laissez Faire Capitalism and Economic Dissolution of the West
For more on Michael, please visit michael-hudson.com