Merchants of Misery: How Corporate America Profits From Poverty

by Michael W. Hudson

Examines how corporations profit from the poor by bankrolling pawnshops and high-interest finance companies, and discusses current protests

Genres: Economics, Nonfiction

232 pages, Paperback

First published March 1, 1996

About the author

Michael W. Hudson is a Pulitzer-Prize winning American investigative journalist. He is currently on his second stint as a senior editor with the International Consortium of Investigative Journalists.

Reviews

[Thomas Ray]

Dewey 332.10973 M535m

By reporter Michael Hudson (1961-) https://www.icij.org/journalists/mich...

not the economist Michael Hudson (1939-)

[Katherine Jones · Rating 5 out of 5]

Molly Ivins says it best - this book is about "an unholy collection of ruthless, vicious scum." I would only add "and their enablers, the national banks and supporting corporate financial system. Which is probably part of who she included in her invective, to be honest. I know Molly is not resting in peace, but I hope she's gratified by those of us who remember her fondly.

I learned what this book describes as a teen, watching my own parents fall victim to the system, and it made me a consumer advocate as an adult. We recovered, so many people can't.

If you can only do one thing, move your money to a community development credit union. If you can do two things, follow your legislatures law-making on the issue of interest rate caps, and fight like hell to lower them as low as possible, and then even lower every year.

Now I have to go find something furry to snuggle to lower my blood pressure. Read this book slowly to make sure you understand it, to let it sink in, and to make sure you don't explode.

[Tristan · Rating 3 out of 5]

fairly outdated and it unfairly skews everything possible in favor of consumers. Interesting at least and decently written although I consider the format tacky. would have been 2 stars if I didn't work in the industry

[Chuck Jackson · Rating 4 out of 5]

Life changer for a friend, haven't finished it but clearly it is a make-your-blood-boil kind of book. Awful reality.

[m_miriam · Rating 3 out of 5]

Outdated, although interesting from a historical perspective, especially within current economic conditions. It is fascinating, frustrating, and unsurprising to hear main-stream journalists discussing the troublesome nature of mortgage-backed securities (in the mid-nineties!) and a successful pawn-broker commenting on the inroads his industry has made into established financial organizations, such as, you know, Lehman Brothers.

[Trista · Rating 2 out of 5]

dated, could use updated information