Hager, ‘Public Debt, Inequality, and Power: The Making of a Modern Debt State’

Abstract Who are the dominant owners of US public debt? Is it widely held, or concentrated in the hands of a few? Does ownership of public debt give these bondholders power over our government? What do we make of the fact that foreign-owned debt has ballooned to nearly 50 percent today? Until now, we have […]

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