How to Save the Global Economy: Write Off the World's Debt

January 2012
Foreign Policy;Jan/Feb2012, Issue 191, p1
The article argues for debt forgiveness in the developed world as a means to end the early 21st century global economic recession. To bring this about, the author believes that consumer demand must be increased in the U.S. While the deleveraging of public debt is beneficial, the author also argues that consumer debt is needed for true economic growth.


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