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Consumers’ Shift to Debt

Matthew P. Drennan

in Income Inequality: Why It Matters and Why Most Economists Didn't Notice

Published in print:
2015
Published Online:
May 2016
ISBN:
9780300209587
eISBN:
9780300216349
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300209587.003.0004
Subject:
Political Science, Public Policy

Debt of households has been rising rapidly since 1995. The debt to income ratio of the bottom 95 percent of the income distribution has risen well above 140 percent. The same measure for the top five ... More


Income Inequality: Why It Matters and Why Most Economists Didn't Notice

Matthew P Drennan

Published in print:
2015
Published Online:
May 2016
ISBN:
9780300209587
eISBN:
9780300216349
Item type:
book
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300209587.001.0001
Subject:
Political Science, Public Policy

This book tells two stories. First, it shows that rising income inequality played a major role in causing the financial crisis and Great Recession of 2008-2009. While others have argued that rising, ... More


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