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The whole world's about to go bankrupt - by Stephan Kaufmann
"Is the world going bankrupt?" was the headline of "Der Spiegel", and the national debt is indeed today regarded as a central problem of the world economy. In the public debate, two things seem clear: public debt is bad. And they're too much. "Saving" is therefore the order of the day. The states are becoming "leaner", public property is being privatised, the wage level is to fall in order to increase the "competitiveness" of the location.
Where did all that debt come from anyway? And why do all states incur debts - even though they are generally regarded as evils? Why don't you just cancel the debts when the whole world is already suffering from them? These are some of the questions this book will answer. The authors show what purpose government debt serves, when it becomes a problem - and for whom. Because at the end of the day, debt issues are always distribution issues: some have to pay, others are allowed to earn.