Grounded in economic evidence, House of Debt offers answers to some of the most important questions facing the modern economy today: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?

A scandal in Bohemia -- Debt and destruction -- Cutting back -- Levered losses : the theory -- Explaining unemployment -- The credit expansion -- Conduit to disaster -- Debt and bubbles -- Save the banks, save the economy? -- Forgiveness -- Monetary and fiscal policy -- Sharing.