In more than 400 concise and acerbic entries, several essays, and a full topic index, the book covers contemporary terms that are misleading or poorly understood as well as many important concepts that have been abandoned – many on purpose – from the official economics curriculum. The lessons of history cannot be learned if we no longer have access to them, and worse, if in a post-fact world they are inverted and weaponized.
Fortunately, it is not necessary to re-invent the wheel. The major issues that guide healthy economies were known to the Ancients and were expanded upon by classical economists of many different political stripes in the 18th and 19th centuries. Their ideas and principles are among those illuminated here, along with current concerns and a brief presentation of Prof. Hudson’s Bubble Model (how Bubble economies work).
It is not possible to understand what is happening in our global environment – or do anything about it – without reference to an unexpurgated history of political economy and its relationship to civilization, mankind’s ultimate achievement. It is the aim of this book to deconstruct today’s “value-free,” watered-down and deceptive economics that favor the wealthy, allowing the next generation to create successful mixed economies with proper checks and balances that will benefit everyone. This is a book you will want to refer to again and again.