Episode 91

Empire of Debt

This episode examines the contours of how debt relates to imperialism in the modern world, noting its recent history from the oil price shocks to the 1980s debt crisis, the implementation of neoliberal reforms, central bank “independence” and the power of financial markets. Debt functions as a means of dependency and discipline, shackling the debtor to the lender, and facilitating the global expansion of Western State-Capitalist Empire.

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