The Paradox of Debt: A New Path to Prosperity Without Crisis

by Richard Vague

No Customer Reviews

Select Format

Select Condition

Book Overview

Wall Street Journal Bestseller
USA Today Bestseller
Amazon Bestseller

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.

Format:Hardcover

Language:English

ISBN:1512825328

ISBN13:9781512825329

Release Date:July 2023

Publisher:University of Pennsylvania Press

Length:304 Pages

Weight:1.55 lbs.

Dimensions:1.1" x 6.0" x 8.8"

Related Subjects

Business Business & Investing Economics Political Science Politics & Social Sciences

Customer Reviews

0 rating

Write a review

ThriftBooks sells millions of used books at the lowest everyday prices. We personally assess every book's quality and offer rare, out-of-print treasures. We deliver the joy of reading in recyclable packaging with free standard shipping on US orders over $15. ThriftBooks.com. Read more. Spend less.

Copyright © 2025 Thriftbooks.com Terms of Use | Privacy Policy | Do Not Sell/Share My Personal Information | Cookie Policy | Cookie Preferences | Accessibility Statement
ThriftBooks ^® and the ThriftBooks ^® logo are registered trademarks of Thrift Books Global, LLC

The Paradox of Debt: A New Path to Prosperity Without Crisis

Select Format

Select Condition

Recommended

Book Overview

Customer Reviews

Popular Categories

Website

My Account

Partnerships

Quick Help

About Us

Follow Us