In October 2006, Ann Pettifor published her latest book “The Coming First World Debt Crisis”. (Palgrave Macmillan)
The Coming First World Debt Crisis
This book examines the history, politics and ethics of money-lending and debt. It explains how massive levels of government, corporate and individual debt have accumulated in high-income countries following the restructuring of the international financial system and financial de-regulation in the 1970s.
The book provides a timely warning of the dangers inherent in high levels of debt and in international financial imbalances. These Ms Pettifor warns, could presage a global financial crisis unless governments regain control over credit, interest rates and capital flows. More broadly, the book highlights the threat to our environment as we extract the earth’s assets at ever-accelerating rates to repay accumulating debts.
