Category Archives: Debt

Politics of Debt: Debtfare States and the Poverty Industry

Under the rubric of ‘financial inclusion’, lending to the poor –in both the global North and global South –has become a highly lucrative and rapidly expanding industry since the 1990s. A key inquiry of this book is what is ‘the … Continue reading

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Credit as Relationship and Practice: the Sociology of Credit

This paper aims to describe the social studies of credit developed in France over the past dozen years. We argue that this French sociology of credit, mostly centered on France, can be useful for researchers analyzing other countries, with other … Continue reading

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Capitalism based on borrowed money

Be it the United States or the European Union, most Western countries are so highly indebted today that the markets have a greater say in their policies than the people. Why are democratic countries so pathetic when it comes to … Continue reading

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Forgive us our debts

The debt-restraining trends of the Bretton Woods settlement were not reversed until, in the late 1960s, the US began to live – and kill – considerably beyond its means, borrowing enormous sums to cover Johnson’s Great Society and the Vietnam … Continue reading

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The modern European bankocracy and the doom loop

Not excessive government spending but excessive bank lending lies at the root of the eurozone crisis. Here’s why the bankers, not the people, should pay. What the Spanish and Cypriot bailouts tell us, therefore, are three things: first of all, … Continue reading

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Advanced Political Economy Lectures

The economic crisis occurred because of a failure of both economic theory and economic management. Economic theory is dominated by the “Neoclassical”  school of thought, and this school’s understanding of banks, money and debt is seriously deficient. Attempts to control … Continue reading

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The Flaws in Neoliberal Economic Theory and Policies

Steve Keen, Professor of Economics at University of Western Sydney in Australia – In part 1 of this interview, he talks about the flaws in economic theory. In part 2 he talks about how in his search for a realistic … Continue reading

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“Get ready” a big storm is on its way – World Bank

The World Bank warned developing countries today to prepare for the “real” risk that an escalation in the Euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09. In a … Continue reading

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Chris Hedges: The American Empire Is Over & The Descent Is Going To Be Horrifying

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Ponzi Planet: The Danger Debt Poses to the Western World

Countries around the world, particularly in the West, are hopelessly in the red, with debt rising every day. Even worse, politicians seem paralyzed, unable — or unwilling — to do anything about it. It is a global disaster that threatens … Continue reading

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