Forgive us our debts
Benjamin Kunkel: The History of Debt, 10 May 2012
Paper Promises: Money, Debt and the New World Order
by Philip Coggan.
Allen Lane, 294 pp., £20, December 2011,978 1 84614 510 0 Show More
by Philip Coggan.
Allen Lane, 294 pp., £20, December 2011,
Debt: The First 5000 Years
by David Graeber.
Melville House, 534 pp., £21.99, July 2011,978 1 933633 86 2 Show More
by David Graeber.
Melville House, 534 pp., £21.99, July 2011,
“... rates, as for a few years it did. The decisive monetary event took place in October 1979, when Paul Volcker, chairman of the Federal Reserve, hiked interest rates to unprecedented levels, inducing a severe recession in North America and Europe as well as what came to be known as the Third World debt crisis, as the countries of the global South found that ... ”