Ever wonder what would happen if everyone in America paid off all our debts at once? Here's what would happen: the economy would collapse. The entire financial industry is built around putting most of us into debt, and converting that debt into profits for banks and other lending institutions. Our country literally runs on debt.
The social implications of this basic fact are massive. That's why a group of UC Berkeley scholars created Debt & Society. This is how former U.S. Labor Secretary Robert Reich describes the project: "The high indebtedness of households, universities, corporations, and governments has become a hallmark of global capitalism in the 21st century. Debt & Society is bringing together important research to explain why this has happened, and what it will mean for our future."
Dog Park Media is proud to have been chosen to design the new website, as well as to produce a new accompanying video in partnership with The Nation magazine, and to design the layout for a new report on student debt in the U.S., written by the academic researchers behind Debt & Society.