Inefficient debt markets hinder economic progress from "summary" of House of Debt by Atif Mian,Amir Sufi
The presence of inefficient debt markets can have severe consequences for the overall economy. When borrowers are unable to access credit or are forced to pay exorbitant interest rates due to market distortions, it hampers their ability to invest in productive activities. This can hinder economic progress by limiting the potential for growth and innovation.
Furthermore, inefficient debt markets can exacerbate inequality within society. Those who are already financially disadvantaged may find it even more difficult to access credit, perpetuating a cycle of poverty and limiting their chances for upward mobility. This can lead to a widening wealth gap and create social unrest, further destabilizing the economy.
I...
Read More
Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.
