The Janus of Debt
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From our analysis, we found the following most relevant:
As much as some politicians and economic analysts like to complain about the dangerous consequences of rising government, corporate, and personal debt, it would appear that we need even more debt to confront mounting health, climate, and security challenges.
Even in interwar Germany, inflation didnt really work as intended: there was still debt, and it was still highly destabilizing. In 1931: Debt, Crisis, and the Rise of Hitler, economic historian Tobias Straumann of the University of Zurich offers an impressive, fast-paced narrative account of the crucial phase in Germanys Great Depression, underscoring the point about consensus and the politics of debt made by Eichengreen and his co-authors
Economic thinking about debt and what it offers, meanwhile, should focus on short- and long-term trade-offs.
To many observers, the most obvious way of dealing with debt is to grow out of it, with governments pursuing spending and regulatory policies designed to boost economic growth as much as possible