Creditocracy: And the Case for Debt Refusal

Creditocracy And the Case for Debt Refusal It seems like pretty much everybody homeowners students those who are ill and without health insurance and of course credit card holders is up to their neck in debt that can never be repaid % o

It seems like pretty much everybody homeowners, students, those who are ill and without health insurance, and, of course, credit card holders is up to their neck in debt that can never be repaid 77% of US households are seriously indebted and one in seven Americans has been pursued by debt collectors The major banks are bigger and profitable than before the 2008It seems like pretty much everybody homeowners, students, those who are ill and without health insurance, and, of course, credit card holders is up to their neck in debt that can never be repaid 77% of US households are seriously indebted and one in seven Americans has been pursued by debt collectors The major banks are bigger and profitable than before the 2008 crash, and legislators are all but powerless to bring them to heel In this forceful, eye opening survey, Andrew Ross contends that we are in the cruel grip of a creditocracy where the finance industry commandeers our elected governments and where the citizenry have to take out loans to meet their basic needs The implications of mass indebtedness for any democracy are profound, and history shows that whenever a creditor class becomes as powerful as Wall Street, the result has been debt bondage for the bulk of the population Following in the ancient tradition of the jubilee, activists have had some success in repudiating the debts of developing countries The time is ripe, Ross argues, for a debtors movement to use the same kinds of moral and legal arguments to bring relief to household debtors in the North After examining the varieties of lending that have contributed to the crisis, Ross suggests ways of lifting the burden of illegitimate debts from our backs Just as important, Creditocracy outlines the kind of alternative economy we need to replace a preda

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Creditocracy: And the Case for Debt Refusal

  1. Andrew Ross is Professor of Social and Cultural Analysis at New York University, and a social activist A contributor to The Nation, the Village Voice, New York Times, and Artforum, he is the author of many books, including, most recently, Bird on Fire Lessons from the World s Least Sustainable City and Nice Work if You Can Get It Life and Labor in Precarious Times.

655 Reply to “Creditocracy: And the Case for Debt Refusal”

  1. After reading some poor reviews on this book I thought I should clarify some things Creditocracy introduces the concept of oppressive lending not only from the perspective of American debtors but also delves into the history of the Global North exploiting the Global south through loans Andrew Ross pushes for a collective default on loans in order to resist debt that realistically society will not be able to pay back which could result in yet another economic catastrophe.Regarding the reading lev [...]



  2. One of the interesting off shoots to emerge from the Occupy phenomenon of 2013 was Occupy Debt, a trajectory based principally in the USA and centred to a large degree on student debt but with debt gaining profile in association with opposition to mortgagee sales and householder evictions by banks that had provided the loans that have now become known as toxic Occupy Debt set out to get those with unsustainable student loans to pledge to refuse repayment, citing among other things changes in jo [...]


  3. Very interesting argument on Credit in America Was required reading for one of my college courses A bit dry, but most non fiction is Only was assigned to read a few chapters, but plan to finish this upcoming summer 2015.



  4. I m very confused as to who the expected audience for this book is meant to be It s been described as a movement book , that is lucid and accessible , but it s the densest book I ve read in quite some time HemingwayApp gives the first chapter s reading level as Grade 18, with 55% of sentences at post college level Very Hard to Read , and a further 20% at college level Hard to Read The remaining 25% of simple sentences are either quotes, or tend towards This reshuffling of the merits attached to [...]


  5. four stars, because it s not entertaining read and some of the thoughts are not supported by evidence or a plan what to do next Given plans show some Marx and a bit of revolution and that s not going to happen Most of the book is worth reading The climate dept exist, but there is no way, The North will pay the rest there is simply no way how to pay for it I would like to discuss some ideas given in this book.



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