In this section, you can access to the latest technical information related to the FUTURE project topic.

Calculating the Debt Gap

Using the debate over Scottish independence as a case study, this article analyses how calculating creditworthiness"”or "sovereign risk""”has increasingly become the investment yardstick used by the political class to chart the limits to national self"determination. In considering other species of predatory lending"”municipal debt and household debt"the article also charts the migration of the so"called "debt trap" from Southern countries to the North over the last decade. It assesses the progress of advanced societies towards a state of creditocracy, in which the goal of the creditor class is to wrap debt around every social good, generating long"term income streams and repayment obligations that are unsustainable in a functional democracy. The conclusion argues that debt refusal is a legitimate method of salvaging popular democracy.

» Author: Andrew Ross

» Source: Wiley

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