Government intervention is necessary in debt crises from "summary" of House of Debt by Atif Mian,Amir Sufi
In the midst of a debt crisis, the role of government intervention becomes crucial. When households and businesses are drowning in debt, the private sector is unable to lift the economy out of the crisis on its own. This is where government intervention steps in to provide the necessary support. Government intervention can take various forms, such as monetary policy, fiscal policy, or direct support to distressed borrowers. By injecting funds into the economy or providing relief to debtors, the government can stimulate spending and investment, which are e...
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