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Public Debt, Inequality, and Power - The Making of a Modern Debt State (Paperback)
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Public Debt, Inequality, and Power - The Making of a Modern Debt State (Paperback)
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A free ebook version of this title is available through Luminos,
University of California Press's open access publishing program for
monographs. Visit www.luminosoa.org to learn more. Who are the
dominant owners of U.S. public debt? Is it widely held, or
concentrated in the hands of a few? Does ownership of public debt
give these bondholders power over our government? What do we make
of the fact that foreign-owned debt has ballooned to nearly 50
percent today? Until now, we have not had any satisfactory answers
to these questions. Public Debt, Inequality, and Power is the first
comprehensive historical analysis of public debt ownership in the
United States. It reveals that ownership of federal bonds has been
increasingly concentrated in the hands of the 1 percent over the
last three decades. Based on extensive and original research,
Public Debt, Inequality, and Power will shock and enlighten.
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