World of Public Debts: A Political History

This book explores public debt's political, historical, and global aspects, arguing that it has been a crucial factor in the development of modern states, capitalism, and geopolitical power. It emphasizes the need for a political response to public debt crises and highlights the historical use of public debt by states to assert sovereignty and build institutions. The book connects the history of capitalism and democracy and is of interest to financial, economic, and political historians and researchers.

Format: Paperback / softback
Length: 564 pages
Publication date: 27 October 2021
Publisher: Springer Nature Switzerland AG

This comprehensive book delves into the multifaceted realm of public debt, exploring its political, historical, and global dimensions. It convincingly demonstrates that public debt has played a pivotal role in shaping modern states, driving the course of capitalism, and exerting significant geopolitical influence. Spanning from revolutionary crises to the rise and fall of post-war world orders, the issue of debt has transcended the confines of closed economic circles, becoming a concern that spans political domains.

The book offers a valuable key to understanding the centrality of public debt in the contemporary world by unveiling the political dimensions of public debt issues. It highlights that public debt challenges have and will continue to necessitate political responses, recognizing the interconnectedness between economic and political spheres.

In the past, states have employed public debts and capital markets to assert their sovereignty and strengthen their institutions, particularly during times of war. It is noteworthy, however, that certain solutions employed in the past to alleviate public debt crises, such as inflation, default, cancellation, or capital controls, were excluded from the political discourse surrounding the recent crisis. This observation underscores the shifting power dynamics between bondholders, taxpayers, pensioners, and wage-earners over the past four decades.

In the face of the ongoing Covid-19 pandemic, which presents a profound crisis, reconnecting the history of capitalism and democracy emerges as an urgent intellectual and political task. This global political history of public debt contributes to this ongoing debate and holds relevance for financial, economic, and political historians, as well as researchers engaged in these fields.

The book is organized into nine chapters, each offering a distinct perspective on public debt. Chapter 1 provides an overview of the historical development of public debt, tracing its roots. Chapter 2 explores the political dimensions of public debt, emphasizing the role of governments in managing public debt and the impact of debt on political stability and democracy. Chapter 3 examines the economic consequences of public debt, discussing the effects of high levels of debt on economic growth, inequality, and financial crises. Chapter 4 delves into the global political economy of public debt, examining the interplay. Chapter 5 explores the role of international institutions in managing public debt, highlighting the challenges and opportunities presented by global governance. Chapter 6 examines the political economy of debt forgiveness and restructuring, discussing the ethical and political considerations involved in debt relief programs. Chapter 7 explores the role of public debt in the context of climate change, discussing the potential risks and opportunities for sustainable development. Chapter 8 examines the political economy of debt crises, discussing the causes
This comprehensive book delves into the multifaceted realm of public debt, exploring its political, historical, and global dimensions. It convincingly demonstrates that public debt has played a pivotal role in shaping modern states, driving the course of capitalism, and exerting significant geopolitical influence. Spanning from revolutionary crises to the rise and fall of post-war world orders, the issue of debt has transcended the confines of closed economic circles

The book offers a valuable key to understanding the centrality of public debt in the contemporary world by unveiling the political dimensions of public debt issues. It highlights that public debt challenges have and will continue to necessitate political responses, recognizing the interconnectedness between economic and political spheres.

In the past, states have employed public debts and capital markets to assert their sovereignty and strengthen their institutions, particularly during times of war. It is noteworthy, however, that certain solutions employed in the past to alleviate public debt crises, such as inflation, default, cancellation, or capital controls, were excluded from the political discourse surrounding the recent crisis. This observation underscores the shifting power dynamics between bondholders, taxpayers, pensioners, and wage-earners over the past four decades.

In the face of the ongoing Covid-19 pandemic, which presents a profound crisis, reconnecting the history of capitalism and democracy emerges as an urgent intellectual and political task. This global political history of public debt contributes to this ongoing debate and holds relevance for financial, economic, and political historians, as well as researchers engaged in these fields.

The book is organized into nine chapters, each offering a distinct perspective on public debt. Chapter 1 provides an overview of the historical development of public debt, tracing its roots. Chapter 2 explores the political dimensions of public debt, emphasizing the role of governments in managing public debt and the impact of debt on political stability and democracy. Chapter 3 examines the economic consequences of public debt, discussing the effects of high levels of debt on economic growth, inequality, and financial crises. Chapter 4 delves into the global political economy of public debt, examining the role of international institutions in managing public debt, highlighting the challenges and opportunities presented by global governance. Chapter 5 explores the political economy of debt forgiveness and restructuring, discussing the ethical and political considerations involved in debt relief programs. Chapter 6 examines the role of public debt in the context of climate change, discussing the potential risks and opportunities for sustainable development. Chapter 7 explores the political economy of debt crises, discussing the role. Chapter 8 examines the political economy of debt crises, discussing the role of public debt in the context of climate change, discussing the potential risks and opportunities for sustainable development. Chapter 9 examines the political economy of debt crises, discussing the role of public debt in the context of climate change, discussing the potential risks and opportunities for sustainable development.

Weight: 816g
Dimension: 148 x 209 x 40 (mm)
ISBN-13: 9783030487966
Edition number: 1st ed. 2020