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The Paradox of Debt: A New Path to Prosperity Without Crisis by Richard Vague
Category: Business Economics, Economics, Ebooks
Praise "The Paradox of Debt: A New Path to Prosperity Without Crisis by Richard Vague offers a very open minded and wide viewed perspective on debt and how it impacts the world around us. We often hear about the debt that our country is facing, but the reality is many of us are carrying around an insane amount of debt that is also having a major impact on the economy. This book dives into it and looks at it holistically so that we can better understand debt and both the positives and negatives that come with it. Something that is great about this book is how it takes very complex ideas and breaks them down into easy to understand and manage pieces. This allows all of us to gain an understanding of economics and debt even if we do not understand the technical jargon that gets used all too often." - Amazon Customer, 5 star review |
ABOUT THE BOOK
HOW TO MAKE DEBT WORK FOR US
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, Richard Vague shows that the real factor that drives both financial crises and spiralling 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 demonstrates how to do so in areas ranging from trade and housing to financial policy and student debt.
HOW TO MAKE DEBT WORK FOR US
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, Richard Vague shows that the real factor that drives both financial crises and spiralling 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 demonstrates how to do so in areas ranging from trade and housing to financial policy and student debt.
Richard Vague
ABOUT THE AUTHOR
Richard Vague is the author of The Paradox of Debt, which presents a new view of macroeconomics and will be released in July of 2023. He is also author of The Case for a Debt Jubilee, a policy exploration of debt relief, An Illustrated Business History of the United States, the story of our nation’s business progress, A Brief History of Doom, a chronicle of major world financial crises, and The Next Economic Disaster, a book with a new approach for predicting and preventing financial crises.
Richard also serves as managing partner of Gabriel Investments, an early stage venture capital company.
He previously served Secretary of Banking and Securities for the Commonwealth of Pennsylvania. as Chair of the Pennsylvania Housing Finance Agency, and as board trustee for Pennsylvania’s two largest pension funds, the Public School Employees' Retirement System and the Pennsylvania State Employees' Retirement System.
He was also co-founder, Chairman and CEO of Energy Plus, an electricity and natural gas supply company, and co-founder and CEO of two consumer credit card banks, First USA and Juniper Bank.
Richard currently serves on the University of Pennsylvania Board of Trustees and the Penn Medicine Board of Trustees, and on a number of business boards. He is chair of the University of Pennsylvania Press, and chair of the Innovation Advisory Board of the Abramson Cancer Center. He also serves on the Governing Board of the Institute for New Economic Thinking and the board of the Fund for the School District of Philadelphia. He is the founder of the economic data service Tychos (tychosgroup.org), which specializes in analyzing private debt trends, and the email newsletter service Delanceyplace.com, which focuses on non-fiction literature.
Website:
https://www.paradoxofdebt.com/
Richard Vague is the author of The Paradox of Debt, which presents a new view of macroeconomics and will be released in July of 2023. He is also author of The Case for a Debt Jubilee, a policy exploration of debt relief, An Illustrated Business History of the United States, the story of our nation’s business progress, A Brief History of Doom, a chronicle of major world financial crises, and The Next Economic Disaster, a book with a new approach for predicting and preventing financial crises.
Richard also serves as managing partner of Gabriel Investments, an early stage venture capital company.
He previously served Secretary of Banking and Securities for the Commonwealth of Pennsylvania. as Chair of the Pennsylvania Housing Finance Agency, and as board trustee for Pennsylvania’s two largest pension funds, the Public School Employees' Retirement System and the Pennsylvania State Employees' Retirement System.
He was also co-founder, Chairman and CEO of Energy Plus, an electricity and natural gas supply company, and co-founder and CEO of two consumer credit card banks, First USA and Juniper Bank.
Richard currently serves on the University of Pennsylvania Board of Trustees and the Penn Medicine Board of Trustees, and on a number of business boards. He is chair of the University of Pennsylvania Press, and chair of the Innovation Advisory Board of the Abramson Cancer Center. He also serves on the Governing Board of the Institute for New Economic Thinking and the board of the Fund for the School District of Philadelphia. He is the founder of the economic data service Tychos (tychosgroup.org), which specializes in analyzing private debt trends, and the email newsletter service Delanceyplace.com, which focuses on non-fiction literature.
Website:
https://www.paradoxofdebt.com/