Massive Debt Crisis tackles the looming threat of global debt, examining how political incentives and economic vulnerabilities contribute to unsustainable borrowing. The book meticulously analyzes systemic defaults by drawing from public accounts, providing a framework for understanding and addressing this critical challenge. Notably, it highlights how unchecked debt can undermine social welfare and exacerbate global inequalities, presenting a comprehensive analysis of the multifaceted causes and consequences.
The book's approach is structured, starting with fundamental concepts and progressing through the political economy of debt, economic vulnerabilities, and systemic risks. It emphasizes that current debt levels, fueled by short-sighted political decisions, pose a significant threat to economic stability. For example, the book explores how electoral cycles can incentivize politicians to prioritize short-term gains over long-term fiscal responsibility.
Ultimately, Massive Debt Crisis aims to offer balanced policy recommendations for mitigating future debt crises.
