Try free for 30 days

  • The Next Economic Disaster

  • Why It's Coming and How to Avoid It
  • By: Richard Vague
  • Narrated by: Charles Kabala
  • Length: 2 hrs and 15 mins
  • 5.0 out of 5 stars (2 ratings)

1 credit a month to use on any title, yours to keep (you’ll use your first credit on this title).
Stream or download thousands of included titles.
Access to exclusive deals and discounts.
$16.45 a month after 30 day trial. Cancel anytime.
The Next Economic Disaster cover art

The Next Economic Disaster

By: Richard Vague
Narrated by: Charles Kabala
Try for $0.00

$16.45 per month after 30 days. Cancel anytime.

Buy Now for $9.68

Buy Now for $9.68

Pay using voucher balance (if applicable) then card ending in
By confirming your purchase, you agree to Audible's Conditions Of Use and Privacy Notice and authorise Audible to charge your designated credit card or another available credit card on file.

Publisher's Summary

Current debates about economic crises typically focus on the role that public debt and debt-fueled public spending play in economic growth. This illuminating and provocative work shows that it is the rapid expansion of private rather than public debt that constrains growth and sparks economic calamities like the financial crisis of 2008.

Relying on the findings of a team of economists, credit expert Richard Vague argues that the Great Depression of the 1930s, the economic collapse of the past decade, and many other sharp downturns around the world were all preceded by a spike in privately-held debt. Vague presents an algorithm for predicting crises and argues that China may soon face disaster. Since American debt levels have not declined significantly since 2008, Vague believes that economic growth in the United States will suffer unless banks embrace a policy of debt restructuring.

All informed citizens, but especially those interested in economic policy and history, will want to contend with Vague's distressing arguments and evidence.

The book is published by University of Pennsylvania Press.

©2014 University of Pennnsylvania Press (P)2015 Redwood Audiobooks

Critic Reviews

"Richard Vague's voice should not be ignored. His emphasis on the dangers of rising private household debt is a key both to the last crisis and the next." (Ed Luce, Financial Times)
"[Y]ou need to read this book. Packed with insightful analysis, it is a must-read for anyone who wants to understand how we got onto the road to financial ruin-and how to avoid the next disaster." (Megan McArdle, Bloomberg View)
"If you want to understand why financial crises occur, read The Next Economic Disaster." (Liaquat Ahamed, author of Lords of Finance: The Bankers Who Broke the World)

More from the same

What listeners say about The Next Economic Disaster

Average Customer Ratings
Overall
  • 5 out of 5 stars
  • 5 Stars
    2
  • 4 Stars
    0
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0
Performance
  • 5 out of 5 stars
  • 5 Stars
    1
  • 4 Stars
    0
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0
Story
  • 5 out of 5 stars
  • 5 Stars
    1
  • 4 Stars
    0
  • 3 Stars
    0
  • 2 Stars
    0
  • 1 Stars
    0

Reviews - Please select the tabs below to change the source of reviews.

In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.