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The Next Economic Disaster: Why It's Coming and How to Avoid It
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The Next Economic Disaster: Why It's Coming and How to Avoid It Hardcover - 2014

by Richard Vague


From the publisher

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.

Details

  • Title The Next Economic Disaster: Why It's Coming and How to Avoid It
  • Author Richard Vague
  • Binding Hardcover
  • Pages 104
  • Volumes 1
  • Language ENG
  • Publisher University of Pennsylvania Press
  • Date 2014-08-12
  • Illustrated Yes
  • Features Bibliography, Dust Cover, Illustrated
  • ISBN 9780812247046 / 0812247043
  • Weight 0.65 lbs (0.29 kg)
  • Dimensions 8.6 x 5.6 x 0.6 in (21.84 x 14.22 x 1.52 cm)
  • Themes
    • Aspects (Academic): Economic
  • Library of Congress subjects Mortgage loans
  • Dewey Decimal Code 330.9

Media reviews

Citations

  • Choice, 12/01/2014, Page 670

About the author

Philanthropist and former banker Richard Vague is a managing partner of Gabriel Investments and Chairman of The Governor's Woods Foundation.
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The Next Economic Disaster: Why It's Coming and How to Avoid It
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The Next Economic Disaster: Why It's Coming and How to Avoid It

by Vague, Richard

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The Next Economic Disaster : Why It's Coming and How to Avoid It

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The Next Economic Disaster : Why It's Coming and How to Avoid It

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