This week, Ira spoke with Richard Vague, author of "The Paradox of Debt: A New Path to Prosperity." In this capital episode of “Ira’s Everything Bagel,” Richard talks why he wrote the book (stems from the crisis of 2008); why, when the government spends money, it doesn’t disappear; why we have been understudying the role of private sector debt in the economy; how increased government spending benefits households; how debt growth is built into the economy; why debt always grows relative to the size of the economy; and why increased inequality is part of the system.

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