Free PDF The National Debt, by Lawrence Malkin
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The National Debt, by Lawrence Malkin
Free PDF The National Debt, by Lawrence Malkin
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- Sales Rank: #6179630 in Books
- Published on: 1987-04
- Original language: English
- Number of items: 1
- Binding: Hardcover
- 309 pages
From Publishers Weekly
Defining economics as "politics with a few numbers to illuminate its ideas," Time economic correspondent Malkin explores in accessible, often humorous terms the reasons for the change in status, after World War II, of the U.S. from world-economy master to world creditor. Misguided politicians and economists, he charges, largely are responsible for the staggering and unprecedented national debtgovernment and personalincluding a huge debt interest, much of it owed to foreign investors, that threatens not only our own economy, trade balance and social fabric but the world's financial systems as well. He credits our former prosperity to combined government and private initiatives, and traces present conditions to the Keynesian deficit financing of the Great Society and Vietnam War during the Johnson and Nixon years, now magnified by Reagan's tax cuts, military buildup and unbridled credit-based consumerism. Comparing today's conditions with those of the 192629 boom, Malkin suggests that common sense and cooperation between public and private sectors and between nations may avoid a similar catastrophe in the future.
Copyright 1987 Reed Business Information, Inc.
From Library Journal
The title is somewhat misleading as this volume paints a panorama of all types of debt: U.S. national debt, consumer and business debt, Third World debt, and U.S. foreign debt. Anecdotes and history rather than economic analysis sustain the narrative. Although Malkin, an economics correspondent for Time , tells some interesting stories, there is no great depth to the discussion, nor are there many recommendations for dealing with the "swamp of debt." All the reader is left with is the impression that too much debt is bad. Recommended primarily for public libraries that need a very basic introduction to the problem. Richard C. Schiming, Economics Dept., Mankato State Univ., Minn.
Copyright 1987 Reed Business Information, Inc.
Most helpful customer reviews
0 of 1 people found the following review helpful.
A disappointment
By Sam Clemens
A fun read at times, but Malkin provides some misleading--sometimes seriously misleading--information. He never precisely defines "National Debt," though this is the title of the book for cryin' out loud!! He claims that the U.S. economy went to hell after President Jackson broke up the second Bank of the United States, but this economic mess was only due to the actions of the head of the bank, Biddle, fighting tooth and nail against the dissolution, who subsequently took actions--out of spite--which seriously undercut the national economy, for which he should have been hanged.
The author also advises us that having a government surplus is a bad thing. Over and over again (on re-reading this book after many years), I find myself writing in the margin...."Huh?!!"
Not a reliable source. I suggest you consult some others such as "Web of Debt" by Brown.
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