House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again

The House of Debt is a groundbreaking book that reveals the shocking truth about how household debt caused the Great Recession and how it can be solved through direct attack on debt.

Written by two renowned economists, this book provides clear and powerful evidence that the current policy is too heavily biased towards protecting banks and creditors, and that increasing the flow of credit is disastrously counterproductive when the fundamental problem is too much debt.

The authors show how excessive household debt leads to foreclosures, causing individuals to spend less and save more, resulting in declines in production and huge job losses.

To end this cycle, they propose new mortgage contracts that are built on the principle of risk-sharing, which would have prevented the housing bubble from emerging in the first place.

This book is a must-read for anyone who wants to understand the root causes of the economic crisis and how to solve it once and for all.