Tag: Debt Crisis

Financial Indebtedness as a Political Strategy

Money in law is a form of debt Lawyers are not much concerned about, and economists have never really known, what money actually is. In microeconomics the issue of money does not appear at all: indeed, mainstream microeconomics has eliminated money entirely from the supply-demand market model, with the argument that money is just a…

For fragments, and not debts, we are

We are epicurean fragments and not debts, our life is not the life of rights (as debts that will never be paid), but of their use.It may be the case that one could note the peculiar appearance of the thinking minister. A thinking minister is not suddenly a liberated or a good minister, but at…

Cypriots Discover the Debt Jubilee

Come again? Cypriots discover the debt jubilee? Well yes actually, that is basically how depositors at Cypriot banks have been treated by the Troika, even if the decision to grab up to 9.9% of cash deposits to finance a bail out of the finance sector is being presented as a tax or levy. To understand…

Occupy: a brief note on three antique responses to debt crisis

It is worth remarking that three broad types of response to debt crisis could be found in antiquity, in the Mediterranean-Mesopotamian area. We say broad types because it is quite possible that the particular type remarked upon was rather the predominant or defining characteristic of a movement, and could be accompanied by the other types…

GFC2?

The inevitability with which global markets would fall off their to-date unrealistic levels did nothing to mollify the depth and panic of the spasms. It has become a truism that nothing in the structure of international finance has changed, save that the losses of private banks had been socialised, leading to the great weight of…