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House Of Debt: How They (And You) Caused The Great Recession, And How We Can Prevent It From Happening Again,New
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The Great American Recession Resulted In The Loss Of Eight Million Jobs Between 2007 And 2009. More Than Four Million Homes Were Lost To Foreclosures. Is It A Coincidence That The United States Witnessed A Dramatic Rise In Household Debt In The Years Before The Recessionthat The Total Amount Of Debt For American Households Doubled Between 2000 And 2007 To $14 Trillion? Definitely Not. Armed With Clear And Powerful Evidence, Atif Mian And Amir Sufi Reveal In House Of Debt How The Great Recession And Great Depression, As Well As The Current Economic Malaise In Europe, Were Caused By A Large Runup In Household Debt Followed By A Significantly Large Drop In Household Spending.Though The Banking Crisis Captured The Publics Attention, Mian And Sufi Argue Strongly With Actual Data That Current Policy Is Too Heavily Biased Toward Protecting Banks And Creditors. Increasing The Flow Of Credit, They Show, Is Disastrously Counterproductive When The Fundamental Problem Is Too Much Debt. As Their Research Shows, Excessive Household Debt Leads To Foreclosures, Causing Individuals To Spend Less And Save More. Less Spending Means Less Demand For Goods, Followed By Declines In Production And Huge Job Losses. How Do We End Such A Cycle? With A Direct Attack On Debt, Say Mian And Sufi. More Aggressive Debt Forgiveness After The Crash Helps, But As They Illustrate, We Can Be Rid Of Painful Bubbleandbust Episodes Only If The Financial System Moves Away From Its Reliance On Inflexible Debt Contracts. As An Example, They Propose New Mortgage Contracts That Are Built On The Principle Of Risksharing, A Concept That Would Have Prevented The Housing Bubble From Emerging In The First Place.Thoroughly Grounded In Compelling Economic Evidence, House Of Debt Offers Convincing Answers To Some Of The Most Important Questions Facing The Modern Economy Today: Why Do Severe Recessions Happen? Could We Have Prevented The Great Recession And Its Consequences? And What Actions Are Needed To Prevent Such Crises Going Forward?
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- Q: How many pages does House of Debt have? A: This book has one hundred ninety-two pages. It provides an in-depth analysis of economic crises and household debt.
- Q: What is the binding type of House of Debt? A: The binding type is hardcover. This ensures durability and a premium feel for readers.
- Q: Who is the author of House of Debt? A: The author is Atif Mian. He collaborates with Amir Sufi to discuss economic issues related to debt.
- Q: What is the main theme of House of Debt? A: The main theme is the impact of household debt on economic crises. It explores how debt influences spending and job losses.
- Q: What age group is House of Debt suitable for? A: This book is suitable for adults and older teenagers. It covers complex economic theories and real-world implications.
- Q: How should I read House of Debt for better understanding? A: It is recommended to read House of Debt attentively. Note key concepts and examples to grasp the economic arguments effectively.
- Q: How do I keep House of Debt in good condition? A: To keep this book in good condition, store it in a cool, dry place. Avoid exposure to direct sunlight to prevent fading.
- Q: Is House of Debt safe for young readers? A: Yes, House of Debt is safe for older teens, but parental guidance is advised due to its complex themes.
- Q: Can I return House of Debt if I'm not satisfied? A: Yes, you can return House of Debt if you're not satisfied. Check the retailer's return policy for specific conditions.
- Q: What should I do if House of Debt arrives damaged? A: If House of Debt arrives damaged, contact the seller immediately for a replacement or refund.
- Q: Does House of Debt compare to other economic books? A: Yes, House of Debt compares favorably to other economic books by providing unique insights into household debt.
- Q: Is House of Debt focused on the Great Recession only? A: No, it discusses the Great Recession, the Great Depression, and current economic issues in Europe related to debt.
- Q: What kind of research does House of Debt include? A: House of Debt includes thorough economic research and data analysis. It supports its claims with compelling evidence.
- Q: Will House of Debt help me understand economic policy better? A: Yes, it offers insights into economic policy and household debt implications. Readers can gain a deeper understanding of these issues.
- Q: Is House of Debt available in other formats? A: Yes, House of Debt may be available in formats like e-book or paperback. Check with retailers for availability.