straight about what really caused the crisis. It didn't happen because banks are too big to fail--our addiction to private debt … is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and … that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth--but it …

market financing, debt or equity financing - seems to be particularly harmful or beneficial for growth. …

production economy with technological risk. Partially opaque firms are financed by both debt and insider equity. Banks have …