
The Bubble and Beyond is a compendium and brief history of economic thought and why it matters not only to Americans, but to people everywhere. You will find yourself referring to it again and again as a fount of information, much of which has been out of favor for decades and/or suppressed by financial interests. Professor Hudson provides chapter and verse, names names, and explains the mistakes and outright fraud that have often been committed in the name of political ideology, by both the right and the left. You will encounter all of the heroes and miscreants of economics, industry, and politics from the Bible and Babylon to present day banksters, misguided FED policy-makers, and captains of the finance/insurance/real estate sector and the military-industrial complex. In one chapter after another, Hudson tells who did what and to whom and who wins and who loses. He amply shows why the world is in such a financial mess and what can be done about it. PROFESSOR HUDSON'S most controversial claim is that “Debts that can’t be paid, won’t be.” The question he poses is whether debt non-payment will lead to worldwide foreclosures including sell-offs of public domain assets by debt-strapped local and national governments or whether the debts will be written down in line with the ability to pay, as has been done by corporations via Chapter 11 bankruptcies and reorganizations throughout a more enlightened modern economic history. In Professor Hudson's bold view, debt write-downs versus privatization and sell-offs of public domain assets are the economic issues that will dominate politics over the next generation.