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The Debt Paradox: A New Path to Prosperity Without Crisis

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The Debt Paradox: A New Path to Prosperity Without Crisis
14.99 €
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In his iconoclastic book, Richard Weig examines the assets, liabilities, and revenues of the United States and six other leading economies of the world (China, Germany, Japan, Britain, India, France), their public and private debt, to reveal the "net worth of countries." Weig's holistic analysis shows that the real factor driving both financial crises and rising inequality - and, paradoxically, economic growth - is ever-increasing private debt. The paradox is that while debt is crucial for increasing GDP, it also brings instability unless periodic deleveraging is undertaken - which is not easy. But debt can be managed, and at the end of the book Weig shows how this can be done in various areas of the economy, from trade and real estate to student loans for education.
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