The Vocabulary of Economic Deception _ on Anti-War Progressive Teach-in

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The Vocabulary of Economic Deception — Dr. Michael Hudson

We discuss Michael Hudson’s book, J is for Junk Economics: A Guide to Reality in an Age of Deception, with an emphasis on the degradation of economic vocabulary that hides the real state of the economy; language affects peoples’ perception of reality; history of economic thought no longer taught; classical political economy focused on society’s unearned income or rent; the rentier landlord financial class; fictitious capital; the real reforms of the progressive era; classical political economists expected capitalism to evolve into socialism; classical economic concepts of value, price and rent; productive versus extractive economic sectors; public financing of infrastructure a windfall for the private sector; effects of the tax deductibility of interest; monetary policy and the Federal Reserve; economics is political – politics has always been about who is going to get what; National Income Accounting; fiscal policy and Modern Monetary Theory; the three stages of debt leveraging.

From a Guns & Butter Presentation. Produced, edited and mixed by Bonnie Faulkner, Yarrow Mahko and Tony Rango.


This show was broadcast on December 15, 2018.

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The Anti-war Progressive Teach-in broaches upon some of the most highly charged subjects of our day—War & Peace, national healthcare, women’s rights, human rights, civil rights, torture, vets against the war, freedom, democracy, protest, demonstrations, etc. We scour the world to find and gather debates and presentations that are extremely informative and educational. Related subjects are also discussed. It provides key information for the uninitiated and the initiated alike.



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