Putting an End to the Rent Economy — Vlado Plaga interviews Michael Hudson

Summary:
Interview with Vlado Plaga in the German magazine FAIRCONOMY, September 2017.VP: You are advocating a revival of classical economics. What did the classical economists understand by a free economy? MH: They all defined a free economy as one that is free from land rent, free from unearned income. Many also said that a free economy had to be free from private banking. They advocated full taxation of economic rent. Today’s idea of free market economics is the diametric opposite. In an Orwellian doublethink language, a free market now means an economy free for rent extractors, free for predators to make money, and essentially free for financial and corporate crime. Good one.CounterpunchPutting an End to the Rent Economy Vlado Plaga interviews Michael Hudson, President of The Institute for

Topics:
Mike Norman considers the following as important: Classical economics, compound interest, economic rent, financial rent, interest, land rent, monopoly rent, rent-seeking

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