In Killing the Host, economist Michael Hudson exposes how finance, insurance, and real estate (the FIRE sector) have seized control of the global economy at the expense of industrial capitalism and governments. The FIRE sector is responsible for today’s extreme economic polarization (the 1% vs. the 99%) via favored tax status that inflates real estate prices while deflating the “real” economy of labor and production. Hudson shows in vivid detail how 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. Killing the Host describes how the phenomenon of debt deflation imposes punishing austerity on the U.S. and European economies, siphoning wealth and income upward to the financial sector while impoverishing the middle class.
Published by CounterPunch, 2015. 356 pages.
2015 A Narco History: How the United States and Mexico Jointly Created the “Mexican Drug War”
The “War Against Drugs”: who started it, and why? What are its consequences in real terms, not mere statistics, for the people most affected by it? One hundred thousand deaths later-with the vast majority of those killed innocent citizens, such as the 43 teachers college students murdered in Guerrero-the solution to peace requires a radical rethinking of how America, and its neighbors, approach the illegal drug trade.
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Too Many Secrets: What Washington Should Stop Hiding (Review by Ron Wyden and John Dickas in Foreign Affairs)
From Dick Cheney’s man-sized safe to the National Security Agency’s massive intelligence gathering, secrecy has too often captured the American government’s modus operandi better than the ideals of the Constitution. In this important new book, Frederick A.O. Schwarz Jr., who was chief counsel to the U.S. Church Committee on Intelligence uses examples ranging from the dropping of the first atomic bomb and the Cuban Missile Crisis to Iran Contra and 9/11 to illuminate this central question: how much secrecy does good governance require? Schwarz argues that while some control of information is necessary, governments tend to fall prey to a culture of secrecy that is ultimately not just hazardous to democracy but antithetical to it. This history provides the essential context to recent cases from Chelsea Manning to Edward Snowden. Democracy in the Dark is a natural companion to Schwarz’s Unchecked and Unbalanced, co-written with Aziz Huq, which plumbed the power of the executive branch—a power that often depends on and derives from the use of secrecy.
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2016 (forthcoming): Postcapitalism, A Guide to Our Future In this bold and prophetic book, Mason shows how, from the ashes of the crisis, we have the chance to create a more socially just and sustainable economy.
2012: Economic crisis, social networking and a new political consciousness have come together to ignite a new generation of radicals.
2010: Meltdown, The End of the Age of Greed Meltdown is the gripping account of the financial collapse that destroyed the West’s investment banks, brought the global economy to its knees, and undermined three decades of neoliberal orthodoxy.