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Public Debt, Inequality, and Power: The Making of a Modern Debt State

Public Debt, Inequality, and Power: The Making of a Modern Debt State

Who are the dominant owners of US 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...

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