Private Debt and Public Debility

Daniel Alpert and Robert Hockett

Challenge, 2017, vol. 60, issue 1, 4-26

Abstract: The authors argue that economic growth has been far too dependent on rising debt over the last few decades. Once it was housing debt, now it is consumer and student debt. The solution is fiscal growth policies, including public investment, and a version of debt forgiveness. We will not get rapid growth again with such a debt overload, which also increases the possibilities of another debt crash and accompanying economic deflation.

Date: 2017
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DOI: 10.1080/05775132.2016.1272962

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