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What We Owe

Truths, Myths, and Lies about Public Debt

Carlo Cottarelli (author)

ISBN: 9780815730675

Publication Date: Aug 2017

Format: Hardback

Famed international economist Carlo Cottarelli explains public debt - the IOUs governments issue to keep the machinery of government running. Where does public debt originate? Why is it so difficult to reduce? Why is it so important for a nation's economy? Can nations live with debt, and how? Is it possible to eliminate public debt?
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Famed international economist Carlo Cottarelli explains public debt—the IOUs governments issue to keep the machinery of government running. Where does public debt originate? Why is it so difficult to reduce? Why is it so important for a nation's economy? Can nations live with debt, and how? Is it possible to eliminate public debt?

Drawing on his roles as director of fiscal affairs and executive director for Italy at the International Monetary Fund, and as commissioner of public spending reform in Italy, Cottarelli brings a wealth of direct experience, especially of the crises generated by public debt, including in Italy and Greece, and their solutions: from the orthodox (austerity) to the more combative ("I won't pay you"), to more realistic, long term, growth-focused solutions.

Cottarelli provides an essential, bias-free guide to public debt. He describes the different forms of debt in countries across the globe and illustrates what experts know and do not know about it, its perils and its solutions. A must-read to understand one or the main issues in today's global economy.
Pages 180
Dimensions 229 x 152
Date Published 30 Aug 2017
Publisher Brookings Institution Press
Subject/s Economics   International economics   Public finance  
Carlo Cottarelli is the Executive Director for Italy at the International Monetary Fund. He was Commissioner of public spending reform in Italy and director of the International Monetary Fund's Fiscal Affairs Department. At the IMF, he worked on surveillance and technical assistance in a variety of countries, including Albania, Croatia, Hungary, Lebanon, Russia, Serbia, Tajikistan, Turkey, Italy, and the United Kingdom. He has authored several papers on fiscal and monetary policies and institutions, and edited books on inflation, monetary policy, and exchange rates.

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