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Public Debt, Inequality, and Power

The Making of a Modern Debt State

Sandy Brian Hager

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University of California Press img Link Publisher

Sachbuch / 20. Jahrhundert (bis 1945)

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A free ebook version of this title is available through Luminos, University of California Press’s open access publishing program for monographs. Visit www.luminosoa.org to learn more.

Who are the dominant owners of U.S. 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 not had any satisfactory answers to these questions. Public Debt, Inequality, and Power is the first comprehensive historical analysis of public debt ownership in the United States. It reveals that ownership of federal bonds has been increasingly concentrated in the hands of the 1 percent over the last three decades. Based on extensive and original research,  Public Debt, Inequality, and Power will shock and enlighten.

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Schlagwörter

capitalism, economic inequality, united states treasury, 21st century america, top one percent, bondholders, social inequality, united states of america, debt, public debt, political debate, economic history, american history, concentrated wealth, public finance, inequality, public debt ownership, global politics, politics, social power, american economy, american government, ownership structure, economic power, government and governing, foreign owned debt, us public debt