House of Debt How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again

Looks at the impact the housing market had on the banking industry as household debt increased and spending decreased.

Auteur

Atif Mian is the Theodore A. Wells '29 Professor of Economics at Princeton University and director of the Julis-Rabinowitz Center for Public Policy and Finance.

Texte du rabat

With clear and powerful evidence, "House of Debt" shows how society s reliance on debt is dangerous and leads to economic disaster. Atif Mian and Amir Sufi compellingly illustrate how debt too easily destroys common borrowers net worth, how these borrowers stop spending, and how people lose jobs as a result. Thoroughly grounded in compelling economic evidence, "House of Debt" offers convincing answers to some of the most important questions facing the modern economy today.
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Résumé
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? This book offers convincing answers to some of the most important questions faced by the economy.