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Paper Promises: Debt, Money, and the New World Order - Philip Coggan [epub]

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Description

 							
  
  Published
2012
  
  Winner of the Spear's Best Business Book Award
  
  Longlisted for the 2012 Financial
Times and Goldman Sachs Business Book of the Year Award
  
  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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