I finally got around to reading Michael Hudson’s Killing the Host. I think it was released over a year ago. Hudson is a professor of economics at University of Missouri, Kansas City, which is where some of the most progressive work is being done, particularly in monetary theory.
This book is not especially well written. The editing was downright sloppy, in my opinion.
But it’s written well enough to follow and the content is valuable. Hudson’s central thesis is that economic policy has moved in the exact opposite direction of what economic philosophers of the 19th and early 20th century foresaw. They believed the world would become increasingly egalitarian, as economic and tax policy would favor industrialists and labor. Instead, it has favored rent seekers, particularly those in the finance sector.
Hudson likens the relationship of the finance sector to the economy to that of parasite to host. Eventually, the parasite drains the life out of the host.
For those interested in economic policy, Killing the Host is an important read. There are insights in this book I’ve not seen elsewhere. So, even though it could have been better written, I recommend it.