- 282 pages
- English
- PDF
- Available on iOS & Android
eBook - PDF
About this book
"A compelling explanation of the deep-seated mechanisms at work in the international credit system" from the coauthor of
Debt, the IMF, and the World Bank (
Counterfire).
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.
"Since 2008 CADTM has campaigned for 'a new doctrine of illegitimate, illegal, odious, and unsustainable debt' cancellation. This doctrine includes considerations of whether the debtor state is democratic, whether it respects human rights, whether the debt is incurred within the framework of 'structural adjustments' (enforced austerity), and includes all debts incurred to pay back previous odious debts. On grounds of global social justice, The Debt System makes a strong case for this new doctrine." —Against the Current
"This work has much to commend it; it provides detailed analyses of the impact of indebtedness in several nations . . . The author shows that, contrary to orthodox arguments, debt repudiation can be both justified and successfully carried out. I recommend the book wholeheartedly." —Counterfire
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.
"Since 2008 CADTM has campaigned for 'a new doctrine of illegitimate, illegal, odious, and unsustainable debt' cancellation. This doctrine includes considerations of whether the debtor state is democratic, whether it respects human rights, whether the debt is incurred within the framework of 'structural adjustments' (enforced austerity), and includes all debts incurred to pay back previous odious debts. On grounds of global social justice, The Debt System makes a strong case for this new doctrine." —Against the Current
"This work has much to commend it; it provides detailed analyses of the impact of indebtedness in several nations . . . The author shows that, contrary to orthodox arguments, debt repudiation can be both justified and successfully carried out. I recommend the book wholeheartedly." —Counterfire
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Yes, you can access The Debt System by Éric Toussaint in PDF and/or ePUB format, as well as other popular books in Economics & Economic Theory. We have over one million books available in our catalogue for you to explore.
Information
Table of contents
- Acknowledgments
- Preface
- 1. How the South Paid for the North’s Crises and for Its Own Subjugation
- 2. How Debt and Free Trade Subordinated Independent Latin America
- 3. In the Nineteenth Century, Mexico Proved That Debt Can Be Repudiated
- 4. Newly Independent Greece Had an Odious Debt Around Its Neck
- 5. Debt as a Means for Continued Domination over Greece
- 6. Debt as an Instrument of Colonial Conquest of Egypt
- 7. Debt: How France Appropriated Tunisia
- 8. Alexander Nahum Sack and Sovereign Debts
- 9. Odious Debt according to Sack and according to the CADTM
- 10. Debt Repudiations between 1830 and 1930
- 11. Mexico’s Victory against Its Creditors (1914–1942)
- 12. The Repudiation of Debt by the Soviets
- Conclusion
- Chronology
- Bibliography
- Notes
- Index
- Works by Éric Toussaint Published in English