Replying to Avatar Aurelius

Agree.

Financial parasites invest heavily to convince the people that they are part of the real economy. To shift money from one place to another and extract a service fee is not a contribution to the economy. Interest is not value created. Stock buybacks and associated stock growth is no sign of increased production.

The shift from industrial capitalism to finance capitalism is a shift back into feudal society.

Read: “Killing The Host”

-Michael Hudson
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Habanero 2y ago

I think it was Hudson who talked about when economists where first coming up with GDP as a calculation, they were going to *subtract* the financial sector from final GDP.

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