December 14th 2019


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Articles from this issue:

COVER STORY A myriad transformations effected by one birth

VICTORIAN POLITICS Andrews hacks away at another way of life and source of jobs

CANBERRA OBSERVED Labor must own up to why it took the thrashing it got

FOREIGN AFFAIRS Hong Kong voters reject Beijing and its proxies

LIFE AND FAMILY On the 30th anniversary of the Convention on the Rights of the Child, how are we doing?

INTERNATIONAL AFFAIRS Brexit: Quintessentially British party politics

OBITUARY Fr Paul Stenhouse: The thoughtful editor for the 'ordinary' reader

OBITUARY Vale David Milne, paragon of loyalty and perseverance

ASIAN AFFAIRS Taiwan and Hong Kong: Pawns in a bigger game

U.S.-CHINA RELATIONS How and why the U.S. should stop financing China's bad actors

HUMOUR You can't stop the music, Paddy

MUSIC 2020 foresight: A musical odyssey

CLASSIC CINEMA North by Northwest: The immaculately produced nightmare

BOOK REVIEW Truncated truths for post-truth times

BOOK REVIEW Food for a summer immersion program

POETRY

LETTERS

THE QUEEN V PELL: A blight on the whole of the criminal justice system

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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