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The Coming First World Debt Crisis
 
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The Coming First World Debt Crisis
 
 
Palgrave Macmillan
 
 
 
 
 
02 Oct 2006
|
£66.00
|Hardback Print on Demand
  
9780230007857
||
 
 
02 Oct 2006
|
£18.99
|Paperback Print on Demand
  
9780230007840
||
 
 
eBooks ebook on Palgrave Connect ebook available via library subscriptions ebook on ebooks.com 
 
 


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DescriptionReviewsContentsAuthors

In this book Ann Pettifor turns her attention from the debt crisis affecting developing countries and examinesthe ballooning debts of first world or OECD countries. She explores the history and roots of the forthcoming international debt crisis - economic liberalisation - and the restructuring of the international financial architecture in the early 1970s. The book goes on to explore the implications of high international indebtedness for governments, corporations, households and individuals. An important and unique contribution is Pettifor's discussion of the justice and morality of debt, particularly for individuals.

The issue of the US deficit and increasing level of individual debt has become a source of concern for governments and individuals alike. Total UK personal debt broke though the £1.1. trillion barrier in June 2005. Britain's personal debt is increasing by £1 million every four minutes. This situation is echoed in the US and throughout Europe. Under George Bush's Presidency, the national debt has increased by 34% which is now 64.8% of GDP. Pettifor's new book makes a strong appeal for the need for change to the current satiation to avert the coming crisis and argues for a new financial architecture.


Description

In this book Ann Pettifor turns her attention from the debt crisis affecting developing countries and examinesthe ballooning debts of first world or OECD countries. She explores the history and roots of the forthcoming international debt crisis - economic liberalisation - and the restructuring of the international financial architecture in the early 1970s. The book goes on to explore the implications of high international indebtedness for governments, corporations, households and individuals. An important and unique contribution is Pettifor's discussion of the justice and morality of debt, particularly for individuals.

The issue of the US deficit and increasing level of individual debt has become a source of concern for governments and individuals alike. Total UK personal debt broke though the £1.1. trillion barrier in June 2005. Britain's personal debt is increasing by £1 million every four minutes. This situation is echoed in the US and throughout Europe. Under George Bush's Presidency, the national debt has increased by 34% which is now 64.8% of GDP. Pettifor's new book makes a strong appeal for the need for change to the current satiation to avert the coming crisis and argues for a new financial architecture.


Reviews

'This insightful book examines how the current international trade in goods and finance that is making the rich richer and the poor poorer and threatens ecosystem and societal collapse is no accident.' - Jonathan Essex, Green World


Contents

1. Introduction; David Tennant and Damien King

PART I: THE PROBLEM - PAST, PRESENT, AND PROSPECTS

2. he Developmental Impact of Debt; David Tennant

3. The Debt Experience of SIDS in the Caribbean; Michelle Robinson

4. The Debt Experience of SIDS in the Pacific; Biman Prasad

5. The Debt Experience of SIDS in the Atlantic, Indian Ocean and South China Sea (AIMS); Kaymara Barrett, Altricia Dawson and Sidonia Mackenzie

6. Prospects for the Growth of Debt in SIDS; David Tennant and Kario-Paul Brown

PART II. CAUSES OF DEBT ACCUMULATION IN SIDS

7. The Sources of Debt in SIDS; Damien King

8. Institutional Causes of Debt in SIDS in the Caribbean, Pacific and AIMS Regions; Colin Bullock and Christine Clarke

PART III AN AGENDA FOR DEBT SUSTAINABILITY IN SIDS

9. An Assessment of Recent Remedial Action Taken by Selected SIDS; Michelle Robinson

10. Debt Sustainability and Sustainable Development in SIDS; Abdullahi Abdulkadri

11. Elements of an Agenda for Debt Sustainability in SIDS; Damien King

12. Conclusion; Damien King and David Tennant


Authors

Damien King is Senior Lecturer and Head of the Economics Department at the University of the West Indies at Mona, Jamaica, and Executive Director of the Caribbean Policy Research Institute.

David F. Tennant is Senior Lecturer, Department of Economics Associate Dean, Graduate Studies, Faculty of Social Sciences at the University of the West Indies at Mona, Jamaica.