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Fault Lines by Raghuram G. Rajan

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CHAPTER ONE

Let Them Eat Credit

JANE IS AN ASSISTANT in a large nonprofit research organization, where she has worked for the past thirty-two years. She was an excellent typist in school and took a few courses in business practice. After spending a semester in college, she decided that the cost of an undergraduate education was not worth the benefits; jobs for typists were plentiful, and the money seemed attractive. Her first job was with the nonprofit, where she initially worked for two bosses. Her primary tasks were to type up reports and research papers, file the enormous amount of paperwork that kept accumulating, and answer the phones.

Over the years, many of those who started in positions similar to Jane's have lost their jobs. The advent ...

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