The Political Economy and Ethics of Debt Financing

by Patrick O'Sullivan, Paolo Ricci

122 pages, Hardcover

Published December 4, 2024

About the author

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Reviews

[Alexandru · Rating 5 out of 5]

The best book I've read this year and one of the best on a topic that is very problematic for the world. I started reading as a skeptic and finished the book by firmly believing that change is needed in the area of debt regulation. The simple analogy between slavery that was normal form an ethical and legal point of view for so long and the need to get rid of it at one moment of human history and debt financing that is also seen as unethical in religions around the world and philosophy made me accept the idea that change is possible. The book is clearly identifying the issue, stating why it is so important and bad for human society and going to clear conclusions and solutions how to move forward and accept a new world, not relying on the predatory nature of interest based debts. A must read for anyone concerned with public borrowing (look at the USA or some European countries - PIIGS), business debt and the profit sharing idea of crediting and most importantly - consumer debt that is ruining lives and make people spend more than they can afford.