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Traditionally, economic crises have fueled debates focused primarily on the role that public debt and debt-fueled public spending play in economic growth. However, serial entrepreneur and finance expert, Richard Vague in his provocative new book,Ìý,Ìýargues that it is in fact the rapid expansion ofÌýprivateÌýrather than public debt that constrains growth and sparks economic calamities like the financial crisis of 2008.

Relying on the findings of a team of economists,ÌýThe Next Economic DisasterÌýpinpoints that the Great Depression of the 1930s, the economic collapse of the past decade, and many other sharp downturns around the world were all preceded by a spike in privately held debt. ÌýThe Atlantic’s Steve Clemons and the Â鶹¹û¶³´«Ã½ Foundation’s Economic Growth Program Director, Sherle R. Schwenninger hosted an in-depth discussion on the current state of the US economy, assessments of the global debt andÌýgrowthÌýpicture and responses to the threat of yet another financial disaster.

Join the conversation online by followingÌý.

Participants:

Steve Clemons
Washington Editor at Large,ÌýThe Atlantic
Senior Fellow, American Strategy Program,Ìý
Â鶹¹û¶³´«Ã½ FoundationÌý
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Sherle R. Schwenninger
Director, Economic Growth Program, Â鶹¹û¶³´«Ã½ Foundation

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Richard Vague

Author,ÌýThe Next Economic Disaster: Why It’s Coming and How to Avoid It
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