The paradox of debt : a new path to prosperity without crisis
(Book)
Author
Published
Philadelphia : University of Pennsylvania Press, 2023.
Physical Desc
viii, 291 pages : illustrations ; 24 cm
Status
Description
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Location | Call Number | Status |
---|---|---|
Park County Public Libraries - Bailey Branch (C882) - NONFICTION | 332.02 | On Shelf |
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More Details
Published
Philadelphia : University of Pennsylvania Press, 2023.
Format
Book
Language
English
Notes
Bibliography
Includes bibliographical references and index.
Description
When we talk about debt and its impact on our economy, we almost always mean "government debt." However, this is only a small part of the picture: individuals, private firms, and households owe trillions, and these private debts are vital to understanding the economy. In this iconoclastic book, Richard Vague examines the assets, liabilities, and incomes of the entire country, private and public sector, to reveal its net worth. His holistic analysis shows that the real factor that drives both financial crises and spiraling inequality--but also, paradoxically, economic growth--is ever rising private debt. The paradox is that while debt is essential and our economy relies on it, it also brings instability unless it is periodically deleveraged--and that is very hard to do. It can, however, be carefully managed, and Vague ends the book by showing how to do so in policy areas ranging from trade and housing to financial policy and student debt. Underpinned by pioneering data analysis and the author's lifetime of experience in the financial world, this book is essential for anyone who wants to understand the deep, underlying dynamics of the American economy. --from Amazon.
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Citations
APA Citation, 7th Edition (style guide)
Vague, R. (2023). The paradox of debt: a new path to prosperity without crisis . University of Pennsylvania Press.
Chicago / Turabian - Author Date Citation, 17th Edition (style guide)Vague, Richard. 2023. The Paradox of Debt: A New Path to Prosperity Without Crisis. University of Pennsylvania Press.
Chicago / Turabian - Humanities (Notes and Bibliography) Citation, 17th Edition (style guide)Vague, Richard. The Paradox of Debt: A New Path to Prosperity Without Crisis University of Pennsylvania Press, 2023.
MLA Citation, 9th Edition (style guide)Vague, Richard. The Paradox of Debt: A New Path to Prosperity Without Crisis University of Pennsylvania Press, 2023.
Note! Citations contain only title, author, edition, publisher, and year published. Citations should be used as a guideline and should be double checked for accuracy. Citation formats are based on standards as of August 2021.
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