Toldja So You Silly Persons
This subject is driving me crazy because it's so multifaceted. Hudson obsesses about rent. So does Varoufakis, but he's going after Bezos who gets his cut from every transaction you make despite the fact that he never produced any of the goods you're buying from him. This is rent, too. The extraction of wealth without creating it. Hudson emphasizes Finance, Insurance, and Real Estate which dominates domestic policy. Hall fusses about the dictatorship of the bond vigilantes who prevent governments from providing services. Now water has been privatized and sewage is floating in the Thames. Finance loves to cut corners. Keen technocratically models how private debt accumulation leads to instability and collapse. The holistic phrase none of them use is how finance is in control of the economy as a whole, getting you every which way. This is the problem of overspecialization: each sector of economic activity behaves as if it were the whole economy. Let one sector dominate and it...