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One way they convinced Americans to buy into this idea was through re-branding. In the 1980s, for example, игра в собирай деньги mortgages became known as "home equity loans. You have every right to borrow against it.
This is counter to the traditional argument that the breakdown of financial institutions causes recessions. Mian, Ludwig Straub and Amir Sufi, National Bureau of Economic Research Working Paper, 2020.
Olney, The Quarterly Journal of Economics, 1999. An International Historical Comparison," by Carmen M. Reinhardt and Kenneth S. Rogoff, American Economic Review, 2008.
Taylor, National Bureau покер для заработка Economic Research Working Paper, 2012. But economist Amir Sufi says the way we traditionally address a recession is deeply flawed. He argues that by encouraging "sugar-rush" solutions, the nation is putting poor and middle-class Americans and the entire economy at even greater risk. This week we look at the role of debt as a hidden driver of recessions, and how we might create a more stable system.
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