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" The philosophy of debt / "
Alexander X. Douglas
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BL
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| Record Number
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641960
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| Doc. No
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dltt
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| Main Entry
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Douglas, Alexander, (Lecturer in philosophy)
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| Title & Author
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The philosophy of debt /\ Alexander X. Douglas
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| Series Statement
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Economics as social theory ;; 42
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| Page. NO
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xv, 164 pages ;; 24 cm
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| ISBN
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9781138929739
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: 1138929735
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: 9781138929746
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: 1138929743
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9781315681009
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| Bibliographies/Indexes
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Includes bibliographical references (pages 155-161) and index
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| Contents
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Part I. Language. 'Debt' as equivocal -- Debitum -- Debt and sin -- Debt vs. duty, I -- Debt vs. duty, II -- Owing and owning -- Creditum, I -- Creditum, II -- Part II. History. What is the institution of debt? -- Ancient usury -- Productive and extractive usury -- The defence of usury -- Forced debts -- The taming of debt -- Usury and abusury -- Part III. Money. What is money? -- The trick behind money -- The origins of money -- Debunking the myth of barter -- Money as debt -- Chartalism and Fiat money -- Government IOUs and taxes -- Bank deposits and 'inside money' -- Monetary operations and the dominance of bank IOUs -- Fixed and floating exchange rates -- Part IV. Political economy. The monetary theory of production -- Debt, trust, and production -- Debt deflation and accidental abusury -- Government deficits -- Inflation, I -- Inflation, II -- What any housewife knows -- Lazy thinking and a new proposal -- Part V. Notes and replies to objections. A note on the 'labour market' and immigration -- A note on the foreign trade balance -- A note on Marxism and the falling rate of profit -- Conclusion
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| Abstract
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"I owe you a dinner invitation, you owe ten years on your mortgage, and the government owes billions. We speak confidently about these cases of debt, but is that concept clear in its meaning? This book aims to clarify the concept of debt so we can find better answers to important moral and political questions. This book seeks to accomplish two things. The first is to clarify the concept of debt by examining how the word 'debt' is used in different contexts. The second is to develop a general, principled account of how debts generate genuine obligations. This allows us to avoid settling each case by a bare appeal to moral intuitions. It requires a close examination of many institutions, e.g. money, contract law, profit-driven finance, government fiscal operations, and central banking. To properly understand the moral and political nature of debt, we must understand how these institutions have worked, how they do work, and how they might be made to work. There have been many excellent anthropological and sociological studies of debt and its related institutions. Philosophy can contribute to the emerging discussion and help us to keep our language precise and identifying the implicit principles contained in our intuitions."--Page 4 of cover
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| Subject
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Debt
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Financial institutions
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Fiscal policy
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Banks and banking
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| Dewey Classification
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332.7
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| LC Classification
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HG3701.D68 2015
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