THE NEXT ECONOMIC DISASTER by Richard Vague ( 9780812247046 ) - Books & Audio Books at Pickabook.co.uk

Item Details

Title:

THE NEXT ECONOMIC DISASTER
WHY IT'S COMING AND HOW TO AVOID IT

By:

Richard Vague

Format:

Hardback

List price:

£15.99

Our price:

£14.39

Discount:

10% off

You save:

£1.60

ISBN 10:

0812247043

ISBN 13:

9780812247046

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Publisher:

UNIVERSITY OF PENNSYLVANIA PRESS

Pub. date:

10 July, 2014

Pages:

104

Description:

In this illuminating and provocative work, Richard Vague argues that the rapid expansion of private debt-rather than public spending-is what constrains economic growth and triggers economic calamities like the financial crisis of 2008.

Synopsis:

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.

Illustrations:

24 illus.

Publication:

Imprint:

University of Pennsylvania Press

Returns:

Returnable

Some other items by this author:

BRIEF HISTORY OF DOOM (HB)

CASE FOR A DEBT JUBILEE

CASE FOR A DEBT JUBILEE (HB)

ILLUSTRATED BUSINESS HISTORY OF THE UNITED STATES (HB)