The financial crisis of 2008 and the subsequent “Great Recession” have often been seen as crises of debt and credit. Political economists have attempted to unravel the financial instruments — the subprime mortgages and collateralized debt obligations — at the … Continue reading “Introduction”
Going Into Debt
Working Lives in Debt
Eli Jelly-Schapiro
How does debt act as a tool of labor discipline? As a catalyst of capitalist accumulation? As a method of labor degradation? I want to approach these questions by imagining a series of three lives, working lives, working lives … Continue reading “Working Lives in Debt”
Environment in Debt
sigma colon
Every winter millions of monarch butterflies migrate from the United States and Canada to forests in central Mexico. The sight of their arrival stops people and traffic not only by virtue of its uniqueness, but also due to the … Continue reading “Environment in Debt”
A Debt Remembered
van truong“Without memory, there is no debt. Put another way: without story, there is no debt.” That’s how Margaret Atwood put it in her book, Payback (2008), in which she foregos the structures of finance in order to explore … Continue reading “A Debt Remembered”
Indemnity for State Murder
monica munoz martinez
In the nineteen-teens, Concepcion García, a Mexican national, lived in Texas to attend school. In April 1919 she became ill, and attempted to return home. That same month Lt. Gulley of the U.S. Cavalry patrolled the U.S.-Mexico border. While crossing … Continue reading “Indemnity for State Murder”
Negotiating Intellectual Debt
hong liangThe establishment of Chinese sociology was transnational from the very beginning. During the early decades of the twentieth century, Europe and Japan were two major sources of Chinese sociological knowledge, but starting from the 1920s, Chinese sociology developed a … Continue reading “Negotiating Intellectual Debt”
Dreamworlds of Debt
amina el-annan
The German philosopher Ernst Bloch in his massive tome The Spirit of Utopia, devoted an entire section to what he called ” Little Daydreams”. Overflowing each page are mystical and impressionistic descriptions of phenomena like wishful thinking, social utopias, … Continue reading “Dreamworlds of Debt”
The Banking Model of Education
andrew hannonTwo thirds of American College graduates graduate in debt. Traditionally, student debt, like a home mortgage, was thought of as “good” debt, a wise investment in the future. The current financial crisis has disrupted that common sense, and … Continue reading “The Banking Model of Education”
The Fetishism of Debt
michael denningWhy are we in debt? And, why do we believe we are in debt? It is not a question of whether we are in debt: we are. In recent years, from Turkey to the United Kingdom, credit card debt … Continue reading “The Fetishism of Debt”
Debt Dossier
richard dienstIt’s important to begin with a reminder of the reasons everybody is talking about debt these days. The threat of “debt crisis” hangs over the world economy. The United States “has been living beyond its means,” Greece “cannot pay its … Continue reading “Debt Dossier”
Comments on the Debt Dossier
david graeberI feel I am at a bit of a disadvantage since Richard Dienst has said much of what I would wish to say, and much of it, at least slightly better. I agree strongly with his assessment. What these … Continue reading “Comments on the Debt Dossier”
Andrew Ross speaks to Occupy Wall Street on Student Debt
Ashley Dawson
Introduction by Ashley Dawson:In 1970, an adviser to California Governor Ronald Reagan’s reelection campaign commented on the state of public education: “We are in danger of producing an educated proletariat. That’s dynamite! We have to be selective on who we … Continue reading “Andrew Ross speaks to Occupy Wall Street on Student Debt”
Radical Politics in the Age of Austerity
Social Text Collective
Michael Truscello’s new documentary, Capitalism Is The Crisis: Radical Politics in the Age of Austerity, which is excerpted above, can be viewed in its entirety here. It features commentary by Chris Hedges, Michael Hardt, and many more.
Making $58,412.10 of Student Debt Disappear into Thin Air
Social Text Collective
My student debt for a MFA from Bard College is currently $58,412.10. My attempt is to use the internet to get 100,000 people to mail the Sallie Mae corporation (who administers my loans), a check for 58 cents. And that by doing this, the collective activity of these small gestures will not only relieve my debt, but will overwhelm and flood their P.O. box in Atlanta, Georgia.
The Free Money Movement
Social Text Collective
The Aaron Burr Society is dedicated to exposing the myths of Free Markets and Free Trade with absurdist, conceptual artwork operating in the public sphere.