Philosophy Critical Thinking

Killing the Host: How Financial Parasites and Debt Bondage - download pdf or read online

Posted On April 20, 2018 at 7:46 pm by / Comments Off on Killing the Host: How Financial Parasites and Debt Bondage - download pdf or read online

By Michael Hudson

ISBN-10: 1568587376

ISBN-13: 9781568587370

The monetary region has succeeded in depicting itself as a part of the effective economic system, but for hundreds of years banking used to be famous as being parasitic. The essence of parasitism is not just to empty the host’s nourishment, but in addition to bland the host’s mind in order that it doesn't realize that the parasite is there.

This is the appearance that a lot of Europe and the us undergo below this day. the purpose of this booklet is to pierce this phantasm and change junk economics with economics according to truth. In Killing the Host, Michael Hudson argues that monetary crises will proceed except we appreciably remodel our monetary and political buildings, and reclaim the easiest principles of classical economics.

Ominous, but clear-eyed and prophetic, Hudson presents achievable suggestions to our financial difficulties, at a time whilst politicians have proven themselves not able to appreciate our economic climate less repair it.

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Extra resources for Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy

Sample text

Otherwise, bankers ask, why would people or companies pay interest, if not to pay for credit deemed necessary to help the economy grow? Bankers and also their major customers – real estate, oil and mining, and monopolies – claim that whatever they are able to extract from the rest of the economy is earned just as fairly as new direct investment in industrial capital. “You get what you pay for,” is used to justify any price, no matter how ridiculous. It is circular reasoning playing with tautologies.

This is precisely the strategy that parasites in nature use to deceive their hosts that they are not free riders but part of the host’s own body, deserving careful protection. The Parasite, the Host, and Control of the Economy’s Brain Biological usage of the word “parasite” is a metaphor adopted from ancient Greece. Officials in charge of collecting grain for communal festivals were joined in their rounds by their aides. Brought along to the meals by these functionaries at public expense, the aides were known as parasites, a non-pejorative term for “meal companion,” from the roots para (beside) and sitos (meal).

It took me about a year to sketch the history of debt crises as far back as classical Greece and Rome, as well as the Biblical background of the Jubilee Year. But then I began to unearth a prehistory of debt practices going back to Sumer in the third millennium BC. The material was widely scattered through the literature, as no history of this formative Near Eastern genesis of Western economic civilization had been written. It took me until 1984 to reconstruct how interest-bearing debt first came into being – in the temples and palaces, not among individuals bartering.

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Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy by Michael Hudson


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