Should We Abolish Household Debts?

In our culture of credit, Johnna Montgomerie argues that abolishing household debts can end austerity and unsustainable debt-dependent growth. She provides practical policy solutions such as extending unconventional monetary policy, refinancing options, and writing off pernicious elements of debt to make the economy fairer and tackle the housing crisis and inequality.

\n Format: Paperback / softback
\n Length: 140 pages
\n Publication date: 22 March 2019
\n Publisher: Polity Press
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In our modern society, the culture of credit has taken center stage. As wages have remained stagnant, we have witnessed a significant increase in private borrowing across the Western world. This trend has resulted in a growing number of households being trapped in a never-ending cycle of spiraling debt, fueled by exploitative lending practices.

In her book, Johnna Montgomerie makes a compelling argument that this situation is fundamentally dysfunctional, affecting individuals and society as a whole. She demonstrates that by abolishing household debts, we can break free from the constraints of austerity and the unsustainable trajectory of debt-driven growth.

Montgomerie combines astute economic analysis with practical policy solutions to address this pressing issue. She advocates for extending unconventional monetary policy to the household sector, offering refinancing options that are pragmatic and affordable, and writing off the most harmful elements of household debt. By implementing this framework, Montgomerie believes we can create a more equitable economy and address the housing crisis and accelerating inequality.

This book is a valuable resource for policymakers, economists, and anyone interested in understanding the dynamics of our financial system and finding sustainable solutions to the challenges we face. It sheds light on the root causes of the debt crisis and provides actionable steps toward a brighter future.

\n Weight: 166g\n
Dimension: 189 x 124 x 12 (mm)\n
ISBN-13: 9781509525409\n \n