The case for debt deflation

Capitalism is dead, credit new king, says Duncan   

 

"... Recognizing that the world operates on a different set of rules from the laissez-faire capitalism of the 19th century is among the key arguments in Duncan’s 2012 book, “The New Depression: The Breakdown of the Paper Money Economy.”
While it might seem like an arcane economic question, Duncan said that, in fact, the stakes are huge.
Global policy makers are running out of time to take advantage of opportunities offered up by the new system to help resolve the crisis, or otherwise face sliding into a corrosive period of economic contraction and rising geopolitical tensions, he said.
“The danger is that this new economic paradigm will collapse through debt deflation,” Duncan said.
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