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Barry Eichengreen: In Defense of Public Debt

December 21, 2021

Barry Eichengreen's latest book seeks to reframe the debate over borrowing by nations.

Much has been said and written about the dangers of government borrowing. In their new book, In Defense of Public Debt, economic historian Barry Eichengreen and his co-authors trace the evolution of sovereign debt from the wars of medieval Europe through the Covid-19 crisis, illustrating public debt's many positive uses, from reacting to financial crises to building public works. In this podcast, Eichengreen discusses the book with Finance and Development Magazine’s Chris Wellisz. Transcript

Barry Eichengreen is Professor of Economics and Political Science at the University of California, Berkeley.