The Debt System: A History of Sovereign Debts and their Repudiation
Toussaint, ÉricPublisher: Haymarket Books
Date Written: 16/04/2019
Year Published: 2019
Pages: 270pp ISBN: 9781608463091
Resource Type: Book
Cx Number: CX23539
A history of national debt and the international power structures it supports. Calls for the repudiation of illegitimate debt.
This compelling, provocative, and accessible volume offers a rejoinder to the prevailing wisdom that views debt as holy writ.
For as long as there have been rich nations and poor nations, debt has been a powerful force for maintaining the unequal relations between them. Treated as sacrosanct, immutable, and eternally binding, it has become the yoke of choice for imperial powers in the post-colonial world to enforce their subservience over the global south. In this ground-breaking history, renowned economist Éric Toussaint argues for a radical reversal of this balance of accounts through the repudiation of sovereign debt.