Authors

Richard Vague

Richard Vague is Secretary of Banking and Securities for the Commonwealth of Pennsylvania. Before that he was the co-founder and CEO of two banks, managing partner of Gabriel Investments, an early-stage venture capital company, and co-founder, chairman and CEO of Energy Plus, an electricity and natural gas supply company. His previous books include A Brief History of Doom and The Case for a Debt Jubilee.

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The Paradox of Debt

The Paradox of Debt argues that, while debt – private and public – is essential to our economy, it also tends to create instability and crisis. A deep-dive analysis of the nation’s entire balance sheet allows us to see how the dynamic force of debt can be managed to maintain both growth and stability.