Tag Archives: debt

The Burden of Nations: Debt and Compound Interest

The disappointing outcome of the G8 Okinawa summit regarding the initiative for debt relief for impoverished and indebted countries of the Global South, led President of Nigeria Olusegun Obasanjo to proclaim in August 2000: “All that we had borrowed up to 1985 or … Continue reading

Posted in Oleg Komlik | Tagged , , | 2 Comments

The debt crisis and austerity in the Eurozone: social and political impacts

During the past six years, the countries of the European periphery – Portugal, Ireland, Italy, Greece and Spain – have been experiencing severe economic-financial crises. In the shadow of these drastic events, the EU institutions and the IMF initiated “bailout programs” for … Continue reading

Posted in Books | Tagged , , , , , , , , , , , , | 4 Comments

Ethnographies of austerity

Austerity is not about numbers, economic data or amorphous macro-scale policies; Austerity is about people. Middle and working-class people, they are the ones who bear the brunt of oppressive neoliberalism and carry the depressing burdens of austerity in their everyday life: increasing unemployment, … Continue reading

Posted in Books | Tagged , , , , , , , , | 2 Comments

Créditez-vous français? Credit as a relationship and a practice

I’m subscribed to “Gdr-economie-sociologie” – an academic mailing list of French and French-speaking economic sociologists and political economists. Receiving through this list announcements about new interesting and enlightening books and articles (in French), intellectually inviting conferences and seminars (conducted in French, … Continue reading

Posted in Papers | Tagged , , , , , , | 2 Comments

Listen to the Athenian Solon: “Our virtue sticks with us and makes us strong, but money changes owners all day long”

Solon (c. 638 – c. 558 BC) was an Athenian statesman, lawmaker and poet, particularly known for ending exclusive aristocratic control of the government and his efforts to legislate against political, economic, and moral decline in archaic Athens, whose elite was obsessed with wealth, power, and prestige. His first … Continue reading

Posted in Oleg Komlik | Tagged , , , , , , | Leave a comment

Get free from the dogmas of the apostles of austerity: Fifteen Fatal Fallacies of Financial Fundamentalism

Just three days before he passed away, a notable Columbia University professor of economics William Vickrey was awarded 1996 Nobel Prize in Economic Sciences for fundamental contribution to the economic theory of incentives under asymmetric information. Throughout his prolific career, Vickrey developed methods … Continue reading

Posted in Papers | Tagged , , , , , , , , | 2 Comments

Debt is a Product of Power Relations

Debt is a product of power relations which inherently exhibits capturing and dominating mechanisms of subordination, appropriation and exploitation in various societal, political and economic fields. Debt is a degrading institutional tool which not merely controls and masters labor in advance, it also self- … Continue reading

Posted in Books | Tagged , , , , , , , | 2 Comments

Money is a mode of governance in a material world of capitalism

Money travels the modern world in disguise. It looks like a convention of human exchange – a commodity like gold or a medium like language. But its history reveals that money is a very different matter. It is an institution … Continue reading

Posted in Books | Tagged , , , , , , , | 1 Comment

Debt Matters: Inequality and Foregone Medical Care

“Of all the forms of inequality, injustice in health care is the most shocking and inhumane.”- Martin Luther King Jr. Scholars have long observed disparities in health, health behaviors and stress by socioeconomic position. But there is a limited understanding of … Continue reading

Posted in Papers | Tagged , , , | 2 Comments

The “responsible”, the “irresponsible” and the Political Economy of the Sovereign Debt Crisis

There are “irresponsible” countries (Greece, Ireland, Italy, Portugal and Spain) which caused the current crisis; and there are “responsible” governments (Germany), which for some reason are asked to repay others’ debts and have the right to refuse to bail “irresponsibles” out and to insist the … Continue reading

Posted in Papers | Tagged , , , , , , , , , | 2 Comments