As public outrage flares over bank bailouts and Europe reels under austerity, it is worth bearing in mind another catastrophe. That one began 30 years ago and sacrificed the lives and livelihoods of tens of millions of people in the name of debt.
The ‘Third World’ debt crisis is one of the most important global ‘events’ of the post-war period and is essential to explaining the corporate-run world economy we have today, its unprecedented levels of inequality and the malaise now gripping the global North.
