“Neither Keynes nor his disciples foresaw the eventual creation of unaffordable debt nearly a century later.” “One of the most fascinating books I’ve ever read” - NetGalley reviewer
Why were economies sluggish before the pandemic arrived? Why have interest rates paid by businesses and households been rising even though deposit rates are nil? Does the policy of bailing out economies bring any dangers? In The Financial System Limit, investment manager David Kauders shows that Keynesian economics has gradually caused the private sector to add to its debts at a true cost far above any inflation. The world cannot afford debts already created. The author challenges the existing academic and political consensus about how economies should be managed. “Radical thinkers might have a point” was how the Financial Times described David Kauders’ first book The Greatest Crash. This new book offers further original thought.
Anyone concerned about financial stability and economic growth should read why the fashionable proposals do not work.