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Debt, Money, and the New World Order
Public Affairs
February 2012
On Sale: February 7, 2012
304 pages ISBN: 1610391268 EAN: 9781610391269 Kindle: B006ZOYLLO Hardcover / e-Book
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Non-Fiction
For the past forty years western economies have splurged on
debt. Now, as the reality dawns that many debts cannot be
repaid, we find ourselves again in crisis. But the oncoming
defaults have a time-worn place in our economic history. As
with the crises in the 1930s and 1970s, governments will
fall, currencies will lose their value, and new systems will
emerge. Just as Britain set the terms of the international
system in the nineteenth century, and America in the
twentieth century, a new system will be set by today's
creditors in China and the Middle East. In the process, rich
will be pitted against poor, young against old, public
sector workers against taxpayers and one country against
another. In Paper Promises, Economist columnist Philip Coggan helps
us to understand the origins of this mess and how it will
affect the new global economy by explaining how our
attitudes towards debt have changed throughout history, and
how they may be about to change again.
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