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The Debt System: A History of Sovereign Debts and their Repudiation

Toussaint, Éric
Publisher:  Haymarket Books
Date Written:  16/04/2019
Year Published:  2019  
Pages:  270pp   ISBN:  9781608463091
Resource Type:  Book

A history of national debt and the international power structures it supports. Calls for the repudiation of illegitimate debt.

Abstract: 
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Publisher's Description:

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.

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