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The Next Economic Disaster

By Richard Vague

Product Image: The Next Economic Disaster

The Next Economic Disaster

By Richard Vague

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Description
Current debates about economic crises typically focus on the role that public debt and debt-fueled public spending play in economic growth. This illuminating and provocative work shows that it is the rapid expansion of private rather than public debt that constrains growth and sparks economic calamities like the financial crisis of 2008. Relying on the findings of a team of economists, credit expert Richard Vague argues that the Great Depression of the 1930s, the economic collapse of the past decade, and many other sharp downturns around the world were all preceded by a spike in privately held debt. Vague presents an algorithm for predicting crises and argues that China may soon face disaster. Since American debt levels have not declined significantly since 2008, Vague believes that economic growth in the United States will suffer unless banks embrace a policy of debt restructuring. All informed citizens, but especially those interested in economic policy and history, will want to contend with Vague's distressing arguments and evidence.
Product details
Number of Pages:
104
Release Date:
2014-07-15
Publication Date:
2014-08-12
Publisher:
University of Pennsylvania Press
Languages:
Original: English
ISBN10:
0812247043
ISBN13:
9780812247046
GPSR Manufacturer Reference:
[email protected]
Weight:
277 g
Height:
149 cm
Width:
223 cm
Thickness:
15 cm
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