Benzinga, February 21, 2012, Tuesday

Benzinga

February 21, 2012, Tuesday

Benzinga (full article)

Louis Hyman, Author of Borrowed, Sees Fundamental Flaws in the American Economy

While many pundits have called the recent economic downturn an unprecedented event, economics historian Louis Hyman disagrees. In his recent book, Borrow: The American Way of Debt, Hyman traces the development of consumer borrowing throughout the twentieth century, arguing that a concentration of wealth amongst the upper echelon caused the most recent crisis.