J Is for Junk Economics

Professor Hudson's companion and follow-up to KILLING THE HOST: HOW FINANCIAL PARASITES AND DEBT DESTROY THE GLOBAL ECONOMY. The new book, J IS FOR JUNK ECONOMICS is an A-to-Z guide to the vocabulary in use in today's tunnel-visioned, overly-mathemetized economic lexicon, including terms and concepts abandoned - many on purpose - from the long history of political economy. It explains how the world economy really works - and who are the winners and losers. Several additional essays provide background and expand on key points and today's concerns. To understand what's really going on, it's not necessary to re-invent the wheel; the major issues that guide healthy economies were known to the Ancients and were expanded upon by the classical economists of the 18th- and 19th-centuries, including Adam Smith, Ricardo, John Stuart Mill, Karl Marx, E. Peshine Smith, Simon Patten, and others of many political stripes who had hoped to leave the legacy of feudalism behind. Their ideas and principles are brought back into the spotlight here. Two key concepts discussed in J IS FOR JUNK ECONOMICS are Rent Theory and debt, which explain how unearned income and the financial sector impoverish governments and populations the world over as power and riches flow upward into the hands of the few. It is hoped that this book will deconstruct today's "value-free," watered-down and deceptive economics that favor the wealthy, allowing the next generation to create a successful economy that benefits everyone.