LEADER 02731nam 2200529 450 001 9910824332003321 005 20230807193925.0 010 $a0-300-21634-3 024 7 $a10.12987/9780300216349 035 $a(CKB)3710000000498015 035 $a(EBL)4093150 035 $a(StDuBDS)EDZ0001293339 035 $a(MiAaPQ)EBC4093150 035 $a(DE-B1597)540410 035 $a(DE-B1597)9780300216349 035 $a(Au-PeEL)EBL4093150 035 $a(CaPaEBR)ebr11119560 035 $a(OCoLC)927441061 035 $a(EXLCZ)993710000000498015 100 $a20151211h20152015 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $2rdacontent 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aIncome inequality $ewhy it matters and why most economists didn't notice /$fMatthew P. Drennan 210 1$aNew Haven, [Connecticut] ;$aLondon, [England] :$cYale University Press,$d2015. 210 4$dİ2015 215 $a1 online resource (168 p.) 300 $aDescription based upon print version of record. 311 $a0-300-20958-4 320 $aIncludes bibliographical references and index. 327 $aCover; Contents; Acknowledgments; Chapter I: Introduction; Chapter II: Trends in Income Distribution; Chapter III: Possible Causes of Rising Income Inequality; Chapter IV: Consumers' Shift to Debt; Appendix: Panel Regression Analysis of State and National Data; Chapter V: Consumption Theory and Its Critics; Chapter VI: Has This Happened Before?; Chapter VII: Conclusion; Notes; Bibliography; Index; A; B; C; D; E; F; G; H; I; J; K; L; M; N; O; P; Q; R; S; T; U; V; W 330 8 $aPrevailing economic theory attributes the 2008 crash and the Great Recession that followed to low interest rates, relaxed borrowing standards, and the housing price bubble. After careful analyses of statistical evidence, however, Matthew Drennan discovered that income inequality was the decisive factor behind the crisis. Pressured to keep up consumption in the face of flat or declining incomes, Americans leveraged their home equity to take on excessive debt. The collapse of the housing market left this debt unsupported, causing a domino effect throughout the economy. Drennan also found startling similarities in consumer behavior in the years leading to both the Great Depression and the Great Recession. 606 $aIncome distribution 607 $aUnited States$2fast 615 0$aIncome distribution. 676 $a339.2 700 $aDrennan$b Matthew P.$01138432 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910824332003321 996 $aIncome inequality$94083145 997 $aUNINA