Tag: Debt

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…

Debt as a Mode of Governance

Capitalism has complete control over life: it has “biopolitical” control. In the primitive society, debt is charged through the primitive inscription, or coding, on the body. Blood-revenge and cruelty address a non-exchangist power. In the despotic society, all debts become infinite debts to the divine ruler. In capitalism, all debts finally break free from the sovereign and become infinite by conjoining flows. With capitalism, debt is continuous and without limit: student debt, credit card debt, mortgage debt, medical debt. Whereas in the primitive system debt is incurred through inscription and, in despotism, exercised by divine law, in capitalism “the market-eye keeps a watch over everything”. In other words, the market-eye becomes the new normal that constitutes the biopolitical control around a weightless, infinitely circulating, immortal debt. We now live in the era of debt in which it is the soul of the individual that is imprisoned […]

Law and Infinite Debt

    In his critique of free will, Spinoza’s first argument against his opponents, named (Heereboord) and unnamed (Descartes, Aquinas, Burgersdijk) is that the intellect is not only the same as the will, but that in no way can the will be said to exceed the intellect.1 The position is characterised as the claim that…