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Broke: How Debt Bankrupts the Middle Class (Studies in Social Inequality) (9780804777018): Katherine Porter: Books. Going to college and buying a home used to be pathways to the middle class. Broke shows that for increasing numbers of Americans they are pathways to personal bankruptcy. This outstanding collection of essays documents the social costs of America's ongoing household debt crisis, and the many ways in which public policy has rigged the game against borrowers.—Isaac William Martin, University of California, San Diego, author of The Permanent Tax Revolt: How the Property Tax Transformed American PoliticsFor anyone tired of hype and rhetoric, at last a book that analyzes the growing effects of debt and bankruptcy on the middle class with rigor and data. Each chapter, crisply written and rich with analysis, lets readers draw their own conclusions. —John A. E. Pottow, University of Michigan Law SchoolAn important collection on consumer finance that offers a troubling window on the financial stresses on the American middle class. Broke breaks new ground in exploring families in bankruptcy, examining the interaction of issues like race, mortgage debt, and student loan debt with the bankruptcy process.—Adam J. Levitin, Georgetown University Law CenterToo many American families are deep in debt because their wages haven't kept up, their jobs are vanishing, and their homes worth less and less. It's not only a human tragedy for them but also a national problem as their debt burden hobbles the American economy and their inability to repay cripples lenders. What should be done? Here's a useful and insightful guide to policies that can help.—Robert B. Reich, author of Aftershock: The Next Economy and America's FutureRisk and return are inseparable. While debt can enable families to buy homes, obtain education, and start businesses, it does so by amplifying both upturns and downturns. Broke clearly illustrates the consequences when overextended families experience the roller coaster ride leading to bankruptcy.—Peter Tufano, University of Oxford
Shipping Weight: 2 pounds
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