Papers from Tipping Points III: Debt-Financed Homeownership – Its Evolution, Impact, and Future

In a new paper, Prof. Bezemer explains how the shift of debt issued to fund "unproductive" rather than "productive" investments explains the global financial and economic development of the past three decades.

Orthodox theory focuses on the reallocation of real resources through trade and ignores the financial and balance sheet aspects of trade. However, global imbalances not only lead to an unsustainable buildup in external debt but also lead to a buildup in domestic debt, especially private sector debt.

Has the allocation of credit to consumer spending hurt the long term prospects of emerging market economies?

Chris Miller asks how China's debt driven growth model fits into the larger history of developing states and if it can escape the pitfalls that ensnared others.

Papers from the second joint Private Debt Project-Center for Household Financial Stability, St. Louis Federal Reserve Bank conference on household indebtedness and its consequences.

How Norway's growing real estate prices might lead to a debt crisis in one of the world's most prosperous economy.

How do we finance innovation without risking a credit crisis?

How the Troika's bailout policies have spurred a debt deflation in Greece

The French corporate sector's debt has ballooned since the 2008 crisis.

How can the Fed make monetary policy serve main street as well as Wallstreet?

What factors really contribute to inflation?

Contents of the Tipping Points Conference

Richard Vague on private debt and the slowdown of growth

What has changed in America's household debt burden since the recession and what has not?

Nicholas Mulder examines how, despite strong fundamentals, the Dutch economy has suffered due to high levels of household debt.

Andrea Terzi on why we need to rethink the role of fiscal policy in economic stability and recovery.

NIRP is quickly becoming a consensus policy within the economics establishment. This paper argues that consensus is dangerously wrong, resting on flawed economic theory and policy assessment.

Rana Faroohar, Assistant Managing Editor in Charge of Economics and Business at Time Magazine speaks to the Private Debt Project about her new book on "financialization."

How has economics explained why US households have been borrowing so much and what is missing?

Has the push for financial inclusion by the international development community hurt world's most vulnerable populations?

Steve Keen on Japan's Lessons for the Global Economy

The Private Debt Project interviews Lord Adair Turner, the Chairman of the Institute for New Economic Thinking and former Chairman of the UK Financial Services Authority on his new book "Between Debt and the Devil."

An excerpt from The Next Economic Disaster: Why It's Coming and How to Avoid It.

Prof. Joerg Bibow on how a combination of financial deregulation, poor institutional design and an ideology of austerity is dooming Europe and the world at large to a decade or more of lost growth.

The Private Debt Project's forum on China's debt bubble and what it means for the future of the global economy. Essays by Yan Liang, Diana Choyleva, Christopher Balding, Henny Sender and Richard Vague.

A World Economic Roundtable report on private debt and the American middle class.