544 subscribers
התחל במצב לא מקוון עם האפליקציה Player FM !
Richard Vague, "The Paradox of Debt: A New Path to Prosperity Without Crisis" (U Pennsylvania Press, 2023)
Manage episode 464149483 series 2472510
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 The Paradox of Debt: A New Path to Prosperity Without Crisis (U Pennsylvania Press, 2023), 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.
Following a career that has spanned fields as varied as banking, energy, credit, and the arts, Richard Vague has recently served as Secretary of Banking and Securities for the Commonwealth of Pennsylvania. He is the author of numerous books, including An Illustrated Business History of the United States, also available from the University of Pennsylvania Press.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
5940 פרקים
Manage episode 464149483 series 2472510
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 The Paradox of Debt: A New Path to Prosperity Without Crisis (U Pennsylvania Press, 2023), 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.
Following a career that has spanned fields as varied as banking, energy, credit, and the arts, Richard Vague has recently served as Secretary of Banking and Securities for the Commonwealth of Pennsylvania. He is the author of numerous books, including An Illustrated Business History of the United States, also available from the University of Pennsylvania Press.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
5940 פרקים
כל הפרקים
×
1 Butch Cassidy and the Sundance Kid 33:26

1 Cotton, Central Asia and the New Great Game 46:02

1 Eleni Kalantidou on Design, Repairability, and Cultures of Repair 1:00:19

1 Lessons on Living with AI from the Home Computer Revolution: Revisiting Sherry Turkle’s “The Second Self” 58:08

1 The Library of Mistakes: A Conversation with Russell Napier 54:53

1 Jamie Jelinski, "Needle Work: A History of Commercial Tattooing in Canada" (McGill-Queen’s UP, 2024) 54:36

1 Postscript: All talk and no action? How political scientists respond to racism and authoritarianism? 1:04:43

1 John Cage: Echoes of the Anechoic 29:02

1 M. Chirimuuta, "The Brain Abstracted: Simplification in the History and Philosophy of Neuroscience" (MIT Press, 2024) 52:44

1 "Steadfast Democrats" Five Years Later: A Conversation with Chryl N. Laird 1:04:26

1 On Barak, "Heat, a History: Lessons from the Middle East for a Warming Planet" (U California Press, 2024) 42:55

1 Kristin A. Olbertson, "The Dreadful Word: Speech Crime and Polite Gentlemen in Massachusetts, 1690–1776" (Cambridge UP, 2022) 46:01

1 Andrew C. Isenberg, "The Age of the Borderlands: Indians, Slaves, and the Limits of Manifest Destiny, 1790-1850" (UNC Press, 2025) 1:07:40

1 Alexandra F. Morris, "Disability in Ptolemaic Egypt and the Hellenistic World: Plato’s Stepchildren" (Routledge, 2024) 40:20
ברוכים הבאים אל Player FM!
Player FM סורק את האינטרנט עבור פודקאסטים באיכות גבוהה בשבילכם כדי שתהנו מהם כרגע. זה יישום הפודקאסט הטוב ביותר והוא עובד על אנדרואיד, iPhone ואינטרנט. הירשמו לסנכרון מנויים במכשירים שונים.