The Case for a Debt Jubilee - by Richard Vague (Paperback)
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<p/><br></br><p><b> About the Book </b></p></br></br>"How we can stave off economic disaster by freeing millions from debt bondage"--<p/><br></br><p><b> Book Synopsis </b></p></br></br><p>We were drowning in in record levels of debt before the COVID-19 crisis, and we are now deluged in it. U.S. private-sector loans have tripled relative to income since 1950 - and government debt is also at an all-time high. Soaring debt burdens individuals, stifles growth, compounds inequality, and brings falling living standards for millions.</p> <p>Richard Vague's new book argues that, contrary to mainstream assumptions, we cannot simply hope that the trend will correct itself. Mounting debt is a feature of our economic system, not a bug: debts perpetually grow and compound, polarizing and impoverishing economies if not overtly dealt with. He offers a detailed plan for how we can restructure a range of debts - such as student loans, auto loans, medical debt and more - and offer hard-pressed debtors a 'jubilee' now, not in some utopian future.</p> <p>Vague's bold polemic contains a wealth of ideas that will free millions from modern-day debt peonage, reduce inequality and bring new vigor to the economy as it struggles to emerge from the pandemic.</p><p/><br></br><p><b> About the Author </b></p></br></br><b>Richard Vague</b> is Secretary of Banking and Securities for the Commonwealth of Pennsylvania.
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