The committee for a citizens audit on the public debt issued a 30-page report on French public debt, its origins and evolution in the past decades. The report was written by a group of experts in public finances under the coordination of Michel Husson, one of Frances finest critical economists. Its conclusion is straightforward: 60% of French public debt is illegitimate. Anyone who has read a newspaper in recent years knows how important debt is to contemporary politics. As David Graeber among others has shown, we live in debtocracies, not democracies. Debt, rather than popular will, is the governing principle of our societies, through the devastating austerity policies implemented in the name of debt reduction.
Posted on: Fri, 13 Jun 2014 19:56:14 +0000
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