Book

Hyman, Louis, 1977-

Borrow : the America way of debt / Louis Hyman.

New York : Vintage Books, ©2012.

x, 292 pages : illustrations ; 21 cm

Provides key principles of both macro and microeconomics, discussing such issues as why budget deficits matter, what the Federal Reserve actually does, and why health insurance is so expensive.

Consumer credit -- United States -- History.

Debt -- United States -- History.

Loans, Personal -- United States -- History.

United States -- Economic conditions.

United States -- Economic policy.

Includes bibliographical references and index.

Introduction: everything old is new again -- When personal debt was really business debt (2000 BC-1920 AD) -- Everybody paid cash for the Model T (1908-1929) -- Fannie Mae can save America (1924-1939) -- How I learned to stop worrying and love the debt (1945-1960) -- Discounted goods and distributed credit (1959-1970) -- Bringing good things to life (1970-1985) -- If only the gnomes had known: the hidden world of securitization (1968-1986) -- The house of credit cards (1986-2008) -- Conclusion: turning the magic of borrowing into the reality of prosperity.

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