Richard Vague’s The Paradox of Debt examines the assets, liabilities, and incomes of the United States, private and public sector, to reveal its net worth. Ultimately, Vague shows that the real factor that drives both financial crises and spiraling inequality—but also, paradoxically, economic growth—is ever rising private debt. Underpinned by pioneering data analysis and Vague’s lifetime of experience in the financial world, this book is essential for anyone who wants to understand the deep, underlying dynamics of the American economy.
With its bold implications for the way we understand the worlds of government and business today, The Paradox of Debt is a perfect fit for book clubs and discussion groups focused on economics, public policy, current affairs, or nonfiction more generally. Our PDF discussion guide is a great way to get the conversation started—it includes a detailed synopsis, great discussion questions, a Q&A with Richard Vague, and more information on Vague’s background and prior work.