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”
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”
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”
“Without memory, there is no debt. Put another way: without story, there is no debt.”[ref]Margaret Atwood, Payback: Debt and the Shadow Side of Wealth (Toronto, ON: House of Anansi Press, 2008) p. 2.[/ref] That’s how Margaret Atwood put … Continue reading “A Debt Remembered”
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”
The 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”
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”
Two 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.[ref]Figures from Glenn Beck to Oprah Winfrey have claimed this, and it … Continue reading “The Banking Model of Education”
Why 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”
It’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”
I 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”
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”
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.
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 Aaron Burr Society is dedicated to exposing the myths of Free Markets and Free Trade with absurdist, conceptual artwork operating in the public sphere.