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As recently as a year ago, the anthropologist David Graeber was well respected within his academic discipline but little-known outside of it. His sole brush with public notoriety had come in 2005, when Yale controversially refused to renew his teaching contract for reasons that Graeber and his supporters linked to his anarchist politics and outspoken activism. When his book Debt: The First 5,000 Years was released in July 2011, there was little to suggest that it had in any way captured the zeitgeist.

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation that borrowers and savers differ in their marginal propensities to save out of permanent income. Embedding this insight in a two-agent overlapping-generations model, we find that recent trends in income inequality and financial liberalization lead to indebted household demand, pushing down natural interest rates. Moreover, popular expansionary policies—such as accommodative monetary policy and deficit spending—generate a debt-financed short-run boom at the expense of indebted demand in the future. When demand is sufficiently indebted, the economy gets stuck in a debt-driven liquidity trap, or debt trap. Escaping a debt trap requires consideration of less standard macroeconomic policies, such as those focused on redistribution or those reducing the structural sources of high inequality.

This article examines the US student debt crisis through a queer, feminist lens attuned to matters of the material. Examining the discourse of 'failed' and/or forestalled millennial adulthood, I argue that the student debt crisis is a product of neoliberal, racial capitalism, and its profit resides in its financialisation. Drawing on queer and feminist theories regarding time and futurity and current research on student debt, I examine the configurations and effects of what I term the 'student-debt-as-hetero-failure discourse', which renders the crisis of student debt legible through a heteronormative life narrative, and obscures the racialised, gendered realities of student debt. The student-debt-as-hetero-failure discourse illustrates how under racial capitalism, heteronormative temporality is structurally conditioned via race. Examining US media coverage, I assert that the reprosexually oriented student-debt-as-hetero-failure discourse legitimises new financial products that enable debtors to sustain and reproduce themselves via more debt.

The threat to the international financial system resulting from the developing‐country debt problem has diminished since the initial 1982 crisis, despite halting adjustment and impaired creditworthiness in heavily indebted developing countries. The threat to the financial system has eased as commercial banks have reduced sharply the share of their assets and capital exposed to the troubled debtor countries. The countries themselves, however, are no better off. A sizable balance‐of‐payments adjustment has occurred in the heavily indebted developing countries, but that adjustment was concentrated–at least in quantitative terms–during the years immediately following the onset of the crisis and might have been more efficient had it been executed more gradually. Despite the adjustment that has occurred, the creditworthiness of the heavily indebted countries–as evaluated by conventional indices–has not improved. And, for reasons that this article explores, economic growth per capita has not resumed either.

Today, the economic and financial crisis is brought to light and it is now clear that many people are directly impacted by this phenomenon. However, a lot of situations are obviously hidden and in particular those concerning over-indebted people. These people often find that it is difficult to express the hardship they are going through and keep silent because is more comfortable for them. The media also does not tackle this burning issue because the complexity of some situations complicates the message. Therefore, a giant gap has appeared leaving over-indebted people entrapped in their secret. Starting from this hypothesis, this article will examine the results of a research conducted on the over-indebted people (survey on written press, analysis of TV broadcasts, analysis of records related to person in debts and responses of people in debts) and the secrets that this phenomenon involves.

Moving from a critical reading of Hannah Arendt's view of the relationship between truth and politics, this essay reframes the relationship between post-truth and politics within contemporary democracies, where a) truth acquires the same status of radical immanence as neoliberal governmentality and the same status of equivalence and exchangeability as commodities and the market, b) the imperative of transparency redefines the public sphere, c) the theatre of representation transforms into the set of presentification, without any border between the visible and the invisible, the sayable and the unsayable. Within such a framework the parresiastic practice of saying one's own truth must be reconsidered, alongside and beyond the foucauldian proposal, as a relational and political practice rather than an individual and ethical style of life. ; Partiendo de una lectura crítica de la perspectiva de Hannah Arendt acerca de la relación entre verdad y política, este ensayo redefine la relación entre posverdad y política dentro de las democracias contemporáneas, donde a) la verdad adquiere el mismo estatus de inmanencia radical de la gubernamentalidad neoliberal y el mismo estatus de equivalencia e intercambiabilidad de las mercancías y del mercado, b) el imperativo de la transparencia redefine la esfera pública, c) el teatro de la representación se transforma en el escenario de la presentificación, sin ninguna frontera entre lo visible y lo invisible, lo decible y lo indecible. Dentro de este marco, la práctica parresiástica de decir la verdad propia de cada cual debe ser reconsiderada, junto con y más allá de la propuesta foucaultiana, como una práctica relacional y política más que como un estilo de vida individual y ético.