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A free ebook version of this title is available through Luminos, University of California Press's open access publishing program for monographs. Visit www.luminosoa.org to learn more. Who are the dominant owners of U.S. public debt? Is it widely held, or concentrated in the hands of a few? Does ownership of public debt give these bondholders power over our government? What do we make of the fact that foreign-owned debt has ballooned to nearly 50 percent today? Until now, we have not had any satisfactory answers to these questions. Public Debt, Inequality, and Power is the first comprehensive historical analysis of public debt ownership in the United States. It reveals that ownership of federal bonds has been increasingly concentrated in the hands of the 1 percent over the last three decades. Based on extensive and original research, Public Debt, Inequality, and Power will shock and enlighten.

Debts, Public --- Government securities --- 21st century america. --- american economy. --- american government. --- american history. --- bondholders. --- capitalism. --- concentrated wealth. --- debt. --- economic history. --- economic inequality. --- economic power. --- foreign owned debt. --- global politics. --- government and governing. --- inequality. --- ownership structure. --- political debate. --- politics. --- public debt ownership. --- public debt. --- public finance. --- social inequality. --- social power. --- top one percent. --- united states of america. --- united states treasury. --- us public debt.