MARC record from Internet Archive

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005 20170627120449.0
008 150430t20152015ctua b 001 0 eng c
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050 00 $aHC110.I5$bD74 2015
082 04 $a330
049 $aNOGA
100 1 $aDrennan, Matthew P.,$d1937-$eauthor.
245 10 $aIncome inequality :$bwhy it matters and why most economists didn't notice /$cMatthew P. Drennan.
264 1 $aNew Haven ;$aLondon :$bYale University Press,$c[2015]
264 4 $c©2015
300 $axi, 155 pages :$billustrations ;$c22 cm
336 $atext$btxt$2rdacontent
337 $aunmediated$bn$2rdamedia
338 $avolume$bnc$2rdacarrier
504 $aIncludes bibliographical references and index.
505 0 $aTrends in income distribution -- Possible causes of rising income inequality -- Consumers' shift to debt -- Panel regression analysis of state and national data -- Consumption theory and its critics -- Has this happened before?
520 $a"Prevailing economic theory attributes the 2008 crash and the Great Recession that followed to low interest rates, relaxed borrowing standards, and the housing price bubble. After careful analyses of statistical evidence, however, Matthew Drennan discovered that income inequality was the decisive factor behind the crisis. Pressured to keep up consumption in the face of flat or declining incomes, Americans leveraged their home equity to take on excessive debt. The collapse of the housing market left this debt unsupported, causing a domino effect throughout the economy. Drennan also found startling similarities in consumer behavior in the years leading to both the Great Depression and the Great Recession. Offering an economic explanation of a phenomenon described by prominent observers including Thomas Piketty, Jacob Hacker, Robert Kuttner, Paul Krugman, and Joseph Stiglitz, Drennan's evenhanded analysis disproves dominant theories of consumption and draws much-needed attention to the persisting problem of income inequality"--Jacket.
650 0 $aIncome distribution$zUnited States.
650 0 $aConsumer credit$zUnited States.
650 0 $aDebt$zUnited States.
650 0 $aGlobal Financial Crisis, 2008-2009.
611 27 $aGlobal Financial Crisis (2008-2009)$2fast$0(OCoLC)fst01755654
650 7 $aConsumer credit.$2fast$0(OCoLC)fst00876277
650 7 $aDebt.$2fast$0(OCoLC)fst00888768
650 7 $aIncome distribution.$2fast$0(OCoLC)fst00968670
651 7 $aUnited States.$2fast$0(OCoLC)fst01204155
650 7 $aEinkommensverteilung.$2gnd$0(DE-588)4013898-7
650 7 $aUngleichheit.$2gnd$0(DE-588)4186884-5
648 7 $a2008-2009$2fast
919 4 $a31867007136927
990 $anobcz 06-27-2017
905 $unoble
901 $a3779600$b$c3779600$tbiblio$soclc
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