Issue #140 I just finished reading Paper Promises: Debt, Money and the New World Order (4 stars) by Philip Coggan, which was published in 2012. This sober (and sobering) book explains the situation in which we now find ourselves. From the dust jacket: “For the past 40 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 crises in the 1930s and 1970s, governments will fall, currencies will lose their value, and new systems will emerge....In the process, rich will be pitted against poor, young against old, public sector workers against taxpayers, and one country against another. To understand the origins of this mess...Coggan shows us how our attitudes toward debt have changed throughout history—and how they may be about to change again.”
Paper Promises
Paper Promises
Paper Promises
Issue #140 I just finished reading Paper Promises: Debt, Money and the New World Order (4 stars) by Philip Coggan, which was published in 2012. This sober (and sobering) book explains the situation in which we now find ourselves. From the dust jacket: “For the past 40 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 crises in the 1930s and 1970s, governments will fall, currencies will lose their value, and new systems will emerge....In the process, rich will be pitted against poor, young against old, public sector workers against taxpayers, and one country against another. To understand the origins of this mess...Coggan shows us how our attitudes toward debt have changed throughout history—and how they may be about to change again.”