1. Public Debt in an Unequal World
- Author:
- Sandy Brian Hager
- Publication Date:
- 01-2016
- Content Type:
- Working Paper
- Institution:
- City Political Economy Research Centre (CITYPERC), University of London
- Abstract:
- Public debt levels have risen across the advanced capitalist world over the past four decades. Who exactly is purchasing these ever-growing piles of public debt? How do rising levels of public indebtedness relate to growing wealth and inequality? This paper presents some of my own findings, which indicate a rapid concentration in ownership of the US public debt since the early 1980s. Focusing on the Eurozone, the paper then goes on to discuss the difficulties in extending this type of research to other countries. The absence of reliable data on ownership of the public debt reinforces the need for a global registry that tracks the distribution of financial wealth.
- Topic:
- Debt, Capitalism, Inequality, Austerity, Public Debt, and Ownership
- Political Geography:
- Global Focus