Streams

Debt, Money, and the New World Order

Friday, May 25, 2012

Economist columnist Philip Coggan discusses why western economies have splurged on debt in the past 40 years, and what the repercussions are. In Paper Promises: Debt, Money, and the New World Order explains the origins of the debt crisis and how it will affect the new global economy.

Guests:

Philip Coggan
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Comments [5]

MC from Manhattan

The "poor" actually should be looked at as debt holders who's demands are not being met. We should look at poverty in the world as the credit that the poor have been forced to provide to the rich so the rich can play the game as it is.

May. 25 2012 01:57 PM
John A.

Ed,
Pray for the church. There is much more evidence of it losing important ground than anything resembling vindication.

May. 25 2012 01:56 PM
MC from Manhattan

The solution to debt ( a demand for a resource) is production. Increased production leads to demands being met. Production is increased by utilizing resources... inc labour so debt should mean more work for people (more $$$) not less.

Quantitative easing is a documentation of the ever expanding money supply and economy and a measure of the fact that the economic system as it is has not caught up to the economy.

The Financial system is creating value and when you create value and measure it you are creating money yet you are not the Central bank cant any one see the problem inherent in this?

May. 25 2012 01:54 PM
Kathryn

Can your guest explain the term "new world order"?
I have seen this term associated with conspiracy theorists.

thanks

May. 25 2012 01:49 PM
Ed from Larchmont

We've seen the fall of Communism. I can't help but think that in Europe we're seeing the fall of Socialism, also a godless system condemned by the Church.

May. 25 2012 05:53 AM

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