Paper Promises

Paper Promises

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Coggan, Philip Public Affairs Books, 2012 Audio summary available
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Over the last forty years, governments and consumers around the world have accumulated massive amounts of debt. This development reveals how attitudes toward money have changed over time. In Paper Promises, author Philip Coggan discusses how debt will affect the global economy in the coming years and influence how generations interact with one another. He suggests that the world is on the brink of a great crisis point, that borrowers will not repay their debts, and creditors—like China—will demand a new system to protect their rights.