Without Solving Personal Debt Crises the Prospects for Social Justice are Naught: On the Pitfalls of Economic Polarization and Political Chaos

• In Event: The Prospects for Human Justice and Species Survival in an Era of Political Transformation

Abstract

In the contemporary age of financialization more and more citizens of the world are living in debt bondage and finding themselves subjects of those financial parasites that are destroying the global political economy. At this turning point in history, if the “one percent” does not provide Clean Slates for the debtors of the world, which has occurred many times throughout human history, then the current economic polarization will only intensify and we will all find ourselves sliding into a new dark age. In order to avoid this neo-feudalism and neo-serfdom where people are not tied to the land like serfs were, and are instead “free” to live wherever but are unable to make ends meet anywhere, then what must we do to ascertain these settlements of accounts?

Author

• Gregg Barak, Eastern Michigan University