Within a historical perspective, the author explains the "culture of debt" - its definition, how it got to be such a major burden, why we can't live without it, and ways to manage it better. He addresses the development of debt over the course of this century in both the US and world economies.

List of Tables and Figures, Preface, 1. An Introduction to the Debt Culture, 2. The Global Debt Picture, 3. The Nature of Debt, 4. Private Debt, 5. Public Debt, 6. Disarming the Debt Bomb, Notes, Bibliography, Index