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Lost Decades: The Making of America's Debt Crisis

"By 2008, the United States had become the biggest international borrower in world history, with two-thirds of its $6 trillion federal debt in foreign hands" points out Jeffry Frieden, co-author of a new book called Lost Decades: The Making of America's Debt Crisis. International borrowing has been a long-standing economic tradition -- we even funded the American Revolution this way. But, Frieden points out, more recent borrowing is massive compared to the past and encouraged debt-fueled consumption rather than sound investments. We’ll look at the roots of this, and the results, including the Great Recession. 

Guest

  • Jeffry A. Frieden - Stanfield Professor of International Peace  at Harvard University's Department of Government and co-author with Menzie D. Chinn of Lost Decades: The Making of America's Debt Crisis and the Long Recovery.

Professor Frieden was in the state as part of the World Affairs Council of New Hampshire's series called "Primary Concerns: Critical Foreign Policy Issues at the Ballot Box in 2012."

Laura is well known in New Hampshire for her in-depth coverage of important issues and is widely regarded for her interviews with presidential hopefuls. Laura is a graduate of Keene High School in New Hampshire. Prior to hosting The Exchange, Laura worked in public radio in Washington, D.C. as a local reporter and announcer for WAMU and as a newscaster for NPR. Before her radio career, she was a researcher for USA Today's "Money" section, and a research assistant at the Institute for International Economics. Laura occasionally guest hosts national programs such as The Diane Rehm Show and Here and Now. In 2007 Laura was named New Hampshire Broadcaster of the Year by the New Hampshire Association of Broadcasters.
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