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© 2026 Juvoni Beckford

←All books

Business · 2010

I.O.U.: Why Everyone Owes Everyone and No One Can Pay

John Lanchester

I.O.U.: Why Everyone Owes Everyone and No One Can Pay Cover
Rating
8/10
Difficulty
Moderate
Read time
7 hours
Best in
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272 pagesRead Mar 10, 2012Staying power: Lingering influence

by Juvoni Beckford·@juvoni

Before readingWhy I picked it up

The effects of the financial crisis were still settling when I first picked up this book. Debt was a scary word, but it was everywhere. I soon realized our whole society was built and backed by debt. It was confusing to me, why can't we solve our debt problems. When access to credit was tight, the economy faltered, I wanted to know why everyone owes and why no one can pay.

After readingPosted November 17, 2015

It reads like a scary history novel, but it's indeed the analysis of the financial collapse in 2008, explaining not only what went down, but the historical context of why and how the system started to crumble. Lanchester's book taught me a lot about the technicals of the financial market that are important to understand that you just wouldn't get through the media. I.O.U takes a look at our cultural values as a nation and participants of a global economy, the intentions of the financial market, the governments influence and response to financial shocks and why debt is so addictive.

Three reasons to read it

  1. 01Learn more about the Financial Crisis, with focus on the explosion of cheap credit
  2. 02View the crisis through the lens of politics, culture, contemporary history and from the invention and widespread misuse of financial instruments
  3. 03Lanchester explains complicated technical material in a short, concise and easy to understand way

Notes for this book are still being transcribed.

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