Indebtedness Research Papers - Academia.edu (original) (raw)

In this paper we analyze the historical roots of neoliberal housing policies, mottos and principles in Italy and Spain, two countries with a Mediterranean welfare regime, showing how they are embedded in the twentieth century fascist-dictatorial regimes of Mussolini and Franco. To stimulate economic growth in a situation of autarchy, both regimes saw the construction sector and the promotion of homeownership as keys to fuel the accumulation process while believing this guaranteed social order. After acknowledging these long-standing roots, we show how the current phase of neoliberalism, characterized by severe austerity policies, relies on similar principles, the main reforms approved in both countries proceeding mainly towards cuts to service provisions and resources, while the promotion of homeownership remains unchallenged.
Keywords: neoliberalism; housing policy; austerity policies; Mediterranean welfare regime; Italy; Spain

- by and +1
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- Italian Studies, Welfare State, Fascism, Housing Policy
- by Irene Sabaté Muriel
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- Business, Sociology, Anthropology, Spain

Agriculture is an important occupation in India. Many people are dependent on agriculture for their income. The low productivity which is led by the deterioration of soil has resulted in low income for the farmers. Over the period of time, the farmers have become indebted of heavy amounts. The indebtedness extent has been studies by various organizations over the period of time. Ultimately, it has resulted into farmers ending up their lives due to the mounting pressures from the money lenders. It not only leads to pressure on the farmer itself but also on the family. There is a cause-and-effect relationship between the pressures being felt by farmer and family members. At times, the farmer is not able to cope up with the pressure on himself and at times, the farmer is not able to accept the building pressure on the family members. In the name of inheritance, the responsibility of family comes along with the debt on the younger generation. All this situation leads to a lot of human rights violations of the farmers and also family members. The paper is an attempt to analyze the human rights violations that exists. The paper will highlight a list of human rights which gets violated as a result of farmers' suicide. This is an analytical paper based on the analysis drawn out the existing secondary data.

- by IERJ Journal
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- Human Rights, Agriculture, Indebtedness, Farmers suicides

En este ensayo se explican y analizan las transferencias hechas por el Banco de México al Gobierno Federal, en tanto se ha tratado de transferencias de ganancias no existentes. Se explica el problema con un símil, usando como ejemplo un valioso jarrón. En la segunda parte se discute la situación fiscal durante este sexenio, lo que explica la necesidad de recurrir a una operación tan poco ortodoxa; finalmente, en la tercera parte se insiste en un manejo adecuado de esas ganancias no realizadas, en fortalecer la autonomía del banco central y en cambiar la definición actual del excedente de operación.

Corporate capital structure has been the subject of extensive research in the last decades. The article briefly examines the existing theories of corporate capital structure. However, applying those concepts in practice has brought mixed results. This study is another attempt to determine capital structure in selected companies as well as analyze impact of thepre-defined debt level on effectiveness of economic entity. Variables like size and sector and their influence on debt-raising ability have also been verified. 10 companies permitted to trade on NewConnect stock market constituted the sample for this study.

- by Sébastien Rioux
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- Québec Studies, Household Economics, Indebtedness, Household Debt

Si l'on en croit le discours dominant, l'endettement est un phénomène individuel ancré dans une mauvaise gestion des finances personnelles lié à une sorte d'analphabétisme économique. C'est également la faillite morale d'individus vivant... more

- by Sébastien Rioux
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- Québec Studies, Indebtedness, Household Income

The rise of mental health problems such as depression cannot be understood in narrowly medical terms, but instead needs to be understood in its political-economic context. An economy driven by debt (and prone to problem debt at the level... more

- by Johnna Montgomerie and +1
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- Mental Health, Depression, Family, Financial Literacy

Although the financialisation research agenda has developed rapidly, especially since the Great Recession, there are still some gaps in the literature regarding Emerging Capitalist Countries’ (ECCs) financialisation experiences. We argue that the concept of dependent financialisation applies more appropriately to ECCs, in line with a recently burgeoning heterodox literature on ECC financialisation. More specifically, we suggest that a critical rethinking of the Dependency School’s arguments in the light of the current uneven and combined financialisation experiences of ECCs will generate a better structured theoretical framework. To support this, we take Turkey’s financialisation experience and its 2018–19 crisis as a case study. We suggest that dependent financialisation in Turkey can be grasped in terms of the emergence of an economic structure with two specific characteristics: (i) it has structurally higher interest rates and a high dollarisation rate due to Turkey’s mode of integration into the hierarchical global financial system; (ii) economic activity increasingly depends on capital inflows, which make the country’s economy vulnerable to the negative effects of the monetary policy decisions of major central banks. Finally, we argue that recurrent crises are the manifestations of the limits of dependent financialisation, which generates an unsustainable mode of integration to the global economy.

- by Ali Riza Gungen and +1
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- Turkey, Financialization, Financial Crises, Monetary Policy
- by alp yücel kaya
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- Capitalism, Indebtedness, İzmir, Debt-Bondage

Ce mémoire examine l’endettement bancaire des étudiants québécois et ses rapports avec la financiarisation du capitalisme. Nous définissons la financiarisation comme un processus de bancarisation de la reproduction économique des salariés depuis les années 1970. À partir de cette décennie, le crédit à la consommation financé par les groupes bancaires est venu se substituer à la couverture providentielle de l’État keynésien en retrait en multipliant les relations d’endettement bancaire sur cartes de crédit, hypothèques, etc. Par le résultat de la privatisation du financement de la reproduction économique et de la précarisation de l’emploi, l’endettement bancaire est devenu un pilier essentiel des stratégies de reproduction économique des salariés nord-américains. L’importance croissante de l’endettement des salariés dans le bilan des banques ainsi que l’autonomisation financière de leurs clients traditionnels a profondément transformé les techniques de gestion de la dette, notamment par la diffusion des pratiques de titrisation. Tentant de ressaisir théoriquement l’endettement bancaire des salariés dans ses multiples composantes empiriques, nous définissons la monnaie comme rapport social d’endettement et l’économie capitaliste comme circuit financier opérationnalisant la circulation de la dette corporative durant la période fordiste du capitalisme et celle des salariés sous la financiarisation, suivant l’économie politique post-keynésienne et circuitiste. Nous montrons le rôle joué durant la financiarisation par la transformation néolibérale des techniques de gouvernement des populations que nous définissons comme gouvernementalité de l’endettement. Examinant l’histoire du circuit financier québécois à travers une étude de cas de la Fédération des caisses Desjardins, nous établissons l’existence d’un circuit financier québécois caractérisé par la place importante du secteur public dans la garantie offerte aux relations d’endettement générées par les institutions financières privées. En montrant la réalité d’une restructuration néolibérale et financiarisée de l’économie canadienne et québécoise, nous examinons l’endettement étudiant québécois pour le mettre en rapport avec la financiarisation du capitalisme et son organisation institutionnelle en circuit. Nous concluons que l’endettement étudiant bancaire public, au Québec, répond de la configuration institutionnelle du circuit financier québécois et que l’endettement sur les produits de crédit privés correspond à une instance d’endettement provoquée par la précarisation des conditions de reproduction économique, leur publicité indiquant la place qu’y occupe les techniques néolibérales de gouvernementalité.

This book is concerned with the social mobilisation in Spain provoked by the financial crisis which started in 2008 and became the biggest economic and political crisis since the restauration of democracy in the 1970s. Intrigued by the increasing social conflict provoked by this crisis, this thesis focuses specifically on the housing movement and on its intersections with some political coalitions that won many municipalities in 2015. Drawing on ethnographic research in two local chapters of the Platform of People Affected by Mortgages (PAH) and the coalitions that won the municipalities of Barcelona and A Coruña, this thesis analyses the influence on mobilisation of two definitory characteristics of these organisations: heterogeneity and decentralisation. In reflecting about these characteristics, the thesis investigates the dynamics that lead to the creation of a “space of activism” that articulates heterogeneous local struggles capable of opposing the capitalist organisation of space. The coming together of heterogeneous perceptions of everyday life proved to be the key in this contention. Nevertheless, the cases demonstrate when challenging capitalist imposition, heterogeneity has not only to be articulated, but also assembled in new representations of everyday life. The thesis argues that these new representations need the creation of multiple differential spaces to avoid jeopardising the cohesion of heterogeneity. The way in which the connection between those spaces is made, by avoiding dynamics of rescaling, has favoured the cohesion of the groups, reduced the tensions linked to dynamics of abstraction and generated a “space of activism” based on horizontality that poses a considerable challenge for capitalism to reimpose subjection. By stressing the importance of space as the product of the confrontation between the capitalist attempts to organise space and its resistances, the research contributes to the discussion about the ways in which social mobilisation can expand by exploring the potentialities and challenges of articulating heterogeneous local struggles.

- by Vitor Peiteado Fernandez
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- Social Movements, Henri Lefebvre, Indebtedness, Deleuze and Guattari
- by Andrea Gyarmati
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- Poverty, Indebtedness

The paper focuses on the analysis of income and expenditure of Czech households with regard to their indebtedness. The main goal is capturing the global differences between indebting and money saving households. Attention is also given to the nature of the distribution of income and expenditures and changes in the structure of household expenditure that occurred in the period 2002-2007. The paper has been created with the support of the grant project of the Grant Agency of the Czech Republic 402/09/0515 "Analysis and Modelling of Financial Power of Czech and Slovak Households”.

- by Michal Novak
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- Statistical Analysis, Households, Indebtedness, Income
- by Aslıhan Hatunoglu
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- Political Economy, Governmentality, Indebtedness, Financialisation
- by Takashi Naito
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- Japanese Studies, Gratitude, Indebtedness, Gratitude Research

"El volumen se dedica al análisis de la disciplina normativa de los Estados europeos en materia de sobreendeudamiento e insolvencia de las personas naturales, materia ésta relacionada a su vez con el vertiginoso aumento del crédito al consumo; todo ello en un momento en que gradualmente va tomando forma en Europa una especie de “Derecho concursal civil” (?), centrado en la gura del Ciudadano privado.
El ordenamiento jurídico comunitario, tanto desde una perspectiva general como desde la perspectiva singular que aportan las respectivas legislaciones de los Estados miembros, presenta cierto décit regulatorio desde la perspectiva de la mejor tutela de familias y consumidores endeudados en exceso. Esta insuciencia, tanto por sí misma como en combinación con otras disfunciones, sigue inuyendo en el colapso economico-nanciero de una Europa condicionada por una excepcional coyuntura económica cuyas dimensiones aún no son exactamente apreciables.
El volumen se propone contribuir a la identicación de las ineciencias de fondo que subyacen en el actual sistema jurídico comunitario desde la perspectiva que ofrecen los “ajustes” considerados más oportunos."

- by Dialogi europaei
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- European History, Eastern European Studies, European Studies, Law
- by Noelle Stout
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- Online Media, Indebtedness

Based on findings that East Asians report more intensely felt indebtedness than North Americans in response to situations in which they receive everyday help, the intensity of indebtedness was compared across Japanese and North American students using descriptions of indebtedness situations (Study 1) and scenarios (Study 2) in order to examine the cultural processes and meanings of indebtedness. In Study 1, felt intensity of indebtedness in 120 everyday societal situations revealed significantly stronger indebtedness among Japanese than Americans, and when Japanese rated on collectivistic daily situations. In Study 2, scenarios manipulating one's own benefit and other(donor)s' cost showed significant country-manipulation interactions. The result suggests that the intensity of felt indebtedness among East Asians might be attributable to their inclination to appraise situations in which they receive help in a more relationally concerned manner than their North American counterparts.

- by Hidefumi Hitokoto
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- Emotion, Culture, Indebtedness

In the framework of the current wave of home repossessions, many Spanish households struggle to keep up with repayments before going into arrears. Their financial vulnerability is not a simple function of the availability of income as they are repaying debts. Rather, it is to be understood in combination with a differential access to other resources that may help households to cope with hardship. Factors that help to keep up with repayments may include the availability of material aid
and non-economic resources, such as information or social connections. But, at a certain stage, debtors may benefit less from aid to keep up with repayments, than from the advice to give them up, a decision that implies challenging the moral obligation to repay and devoting much time and effort to negotiation with the creditor. The availability of these resources needs to be considered in order to understand the (re)production of social inequalities linked to financial vulnerability as a result of mortgage default.

- by Irene Sabaté
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- Spain, Barcelona, Social Inequality, Indebtedness

How can we analyse the (re)emergence of squatting in relation to the current housing crisis in Italy? Centred on the case of Rome, the paper theorizes this return as resulting from processes of subjectification in the housing sector linked to the raising of indebtedness as a main dispositif of capitalism under neoliberal/austerity urbanism agendas. The political economy-oriented literature on neoliberal/austerity urbanism is bridged with the post-Marxist approach of Maurizio Lazzarato. Debt is seen as the archetype of social relations, shaping and controlling subjectivities, making the " work on yourself " essential to the reproduction of (indebted) society. However, given the circular nature of power, indebtedness can be generative of new processes of subjectification aimed at subverting the same power relation. In this sense, the paper operationalizes the conceptualization of Foucauldian subjectification recently proposed by Revel (2014), emphasizing how subjectification always results from i) an action/gesture and ii) a consequent deconstruction of the identity.

- by Cesare Di Feliciantonio
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- Critical Theory, Social Movements, Geography, Political Economy

The following paper is to be considered an anthropological investigation of subjectivity and subject positions after the Greek Debt Crisis after 2010 until today. Signs of the subjective condition that Maurizio Lazzarato calls the Indebted Man can be traced within the ethnographic accounts of Greece during the ongoing struggle revolving around the manifold issues that were raised during that period. Among others, a focus on the subject reveals that an inscription of the debt into the indebted subject’s bodies, a drastic shift in the perception of temporality and time, as well as strong moralization of the condition of indebtedness are present in the ethnographic accounts that are reviewed here. Despite a broad agreement with a lot of Graeber’s basic premises this paper argues along the lines of Maurizio Lazzarato that our current mode of capitalist production and domination eludes Graeber’s categories in respect to the nature of debt as a power apparatus that captures our subject positions. Today, capitalism is characterized by one key feature: Debt constitutes capitalism’s Lacanian Real. Through this assessment a focus on subjectivity and the subject position as an anthropological tool of investigation emerges. This emphasis, according to this paper, can serve as a starting point to reconsider the ethnographic material gathered after the Greek debt Crisis after 2011 on the basis of new theoretical assessments on the complexities of debt and neoliberalism’s modes of coercion.

- by Christian Schirmer
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- Psychoanalysis, Anthropology, Jacques Lacan, Neoliberalism

The Promissory Self – credit and debt rationalities in the work and life of Karl Marx studies the experience of the debtor as a key to understanding how moral and economic rationalities interact. Thorup focuses on overlooked passages in Marx’ letters and manuscripts in order to explain the role of personal engagement with debt in the midst of the theoretical work to dispel capitalist relations altogether.

- by mikkel thorup
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- Intellectual History, History of Economic Thought, Karl Marx, Indebtedness

Prezentarea arata ca, deși masa monetară a crescut constant în termeni reali, sporirea capitalului fix a avut un ritm mai lent și a înregistrat decalaje de 1-3 ani. Gradul de acoperire a capitalului fix cu capital propriu s-a deteriorat în timp și se situează la un nivel total inadecvat comparativ cu țările dezvoltate, crescand puternic gradul de îndatorare a firmelor.
Reformele economice aplicate după 1989, îndeosebi cele din ultimii 15 ani, și funcționarea liberă a pieței au condus la îmbunătățirea calității investițiilor: creșterea ponderii investițiilor în industrie, după anul 2008, îndeosebi la nivelul celei prelucrătoare, iar, în cadrul acesteia, la grupele cu grad tehnologic mediu-ridicat și ridicat.
Îmbunătățirea calității investițiilor și alocarea de către piață a acestora în subramuri cu nivel tehnologic și profitabilitate mai ridicate a condus la reducerea substanțială de personal în industria prelucrătoare, fenomenul fiind compensat prin creșterea locurilor de muncă în sectorul serviciilor cu grad mai redus de calificare.
În mod direct, statul se impune a interveni pentru îmbunătățirea procesului FBCF, având ca premise favorabile resurse naturale și financiare disponibile în domeniul privat și public al statului. Mijloacele de intervenție a statului trebuie să respecte cu strictețe normele europene în domeniu și să stimuleze atragerea capitalului privat în proiectele pe care statul le inițiază. Astfel, se asigură credibilitate investiției sale și generează noi locuri de muncă, creșterea veniturilor populației, venituri bugetare suplimentare și servicii publice de calitate mai bună.

- by Florin Georgescu
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- Corporate Finance, Employment, Romania, Investment

The effects of gratitude and indebtedness on interpersonal orientation (IO) and psychological well-being (PWB) were investigated. In Study 1, female university students (N＝204) responded to a questionnaire. Results indicated that IO mediated the relationship between the obligation to repay, which is a component of indebtedness, and PWB. Moreover, gratitude had a direct positive effect on PWB. Based on these results, in Study 2, we explored why indebtedness had a positive effect on IO. We hypothesized that consciousness of reciprocal interpersonal relationship would moderate the relationship between the obligation to repay and IO. Female university students (N＝199) responded to a questionnaire. Results indicated that consciousness of reciprocity, which is a component of consciousness of reciprocal interpersonal relationships, moderated the relationship between the obligation to repay and IO. These results suggest that indebtedness might have positive functions. Moreover, these results contribute to clarifying the mechanisms relating gratitude and indebtedness to PWB.

- by Naoko Washizu and +1
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- Gratitude, Psychological Well Being, Indebtedness, Interpersonal Orientation

Granting mortgage loans to customers with a high potential of insolvency became a widespread practice in Spain during the recent housing bubble. A practice, nevertheless, that made sense in the social settings where bank clerks, real... more

- by Irene Sabaté
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- Spain, Moral Economy, Mortgage Foreclosure, Sub-prime mortgages

This paper applies a community psychology approach to the tendency of hegemonic psychological science to simplify the distressing experiences of indebted people. The aim of the chapter is to unpack how an action research paradigm can be used to produce practical knowledge for an anti-foreclosure network in Greece’s austerity context. After a brief review of the first research phase which encompassed a qualitative study conducted with members of SAOR (network for the Mutual Assistance of Debtors) in 2014, the chapter presents the second one which included a public presentation of the results of the first phase and a focus group with members of the coalition. The scope of these research activities was to investigate how initial findings could have resonance and relevance for the participants' daily struggles. In the third and last phase of the research we endeavored to work collaboratively with members of SAOR and use media and a documentary film to bring public awareness to the mental health challenges of debtors and to engender community dialogue. We conclude by discussing the implications of working with people within the same community, who concomitantly espouse diverse and antithetical values.

- by Sofia Triliva and +1
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- Community Psychology, Action research (Methodology), Indebtedness, Stop Foreclosure

The aim of the research is to address the challenges that may be a constraint on economic growth and development. In the research, we used the relevant literature and acts that were in front of the delegates at the National Assembly of the Republic of Srpska. The research question is: "What are the main characteristics of the Republic of Srpska's debt?" In line with this, the methods employed in this paper are the analysis and synthesis of previous research, theoretical findings and publicly accessible documents pertaining to the debt of Republic of Srpska, and an overview of the case studies. The contribution of the paper is reflected in the explained wideness and the possibilities of using different sources of money, and the limits on which the debts can be used in order to achieve sustainability tasks. We have concluded that this year, the Republic of Srpska bill has reached the largest amount of debt – KM 858 million (755 million principal and 103 million interest). In line with the presented evidence, priority should be given to projects that would be financed by advantageous credit arrangements and to rationalize public spending. Despite the usual opinion, we have proven that the debt of the Republic of Srpska is sustainable - the average interest rate is lower than the GDP growth rate and that, although unpopular, the currency board system corresponds to the position of the Republic of Srpska. However, we have pointed out the danger of stereotype that the public debt of less than 60% necessarily indicates that the country is in a good position.

- by Miloš Grujić and +1
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- Public Budgeting and Finance, Fiscal Policy and debt Management, Sovereign Debt, External Debt

My curiosity with believing emerges directly from my interest in credere, the Latin root for both the concepts we currently understand as “credit” and “belief”. Where my research leads is to the relationship between processes of financialization and these social activities that are to be understood as “believing,” for, as O’Neill reminds us, Bell affirmed that believing is about “contradictions maintained, not truths affirmed,” (O’Neill 2012: 308). It is in this practice of believing, maintaining contradictions rather than truths affirmed, that the importance of the social practice of belief in relation to financialized capitalism comes to the fore, and where the pressing reality of a growing indebted citizenry threatens the very precarious nature of emergence itself. As David Harvey has insisted, echoing Karl Marx, it is the contradictions in the capitalist system that preclude crisis (Harvey 2014). If we can analyze these contradictions, and the forms in which the social action of believing puts into motion the dialectical movement of finance in an emerging economy, perhaps we can better understand i) what it is that makes an economy emerge (a topic still wanting significant attention from the school of economic anthropology, as well as social economics more general); ii) the embodied practices of belief that manifest themselves in the generation of prosperity; iii) better understand economic crisis; and iv) further understanding of the ways in which the “religious” and the “economic” are co-constitutional (Coleman 2011). Ultimately, and for the purposes of this workshop, I will present ethnographic evidence for the continuing conversation around the practices of believing and the making of financialized capitalism from one of my sites of research, a multi-level marketing company in Bogota. Based on over a year of fieldwork, and over a decade of work and study in Colombia, my research brings me to the productive question: how does believing mediate debt? Is the concept of debt necessary for belief? Lastly, is the practice of believing in prosperity just another “pathology dressed as progress” (Klassen 2011:viii)?

The goal of this paper is to describe, on the basis of national accounts, the situation on the financial market and its influence on indebtedness of households in the Czech Republic and to analyze determinants that affect it. This global view of indebtedness of Czech households will be accompanied by an estimate of their subjective perception of ability to pay debts.

The concept of solidarity is ambiguous: it includes mechanisms of taxes and redistribution, charity, altruistic contributions and political support, social policy, concessions, grants, funds, food, clothes, social entrepreneurship, sponsorship, NGOS, etc. Communitarianism, equality and progress are their ideological pillars. Solidarity in mass culture is a form of ideational and tangible redistribution. Sociology based on the Marxist tradition has been rejecting perpetuation and masking of fundamental economic, social and political inequalities, but their classless society remained attached to nation-states. Following the game theory in the late 20th century, sociological and economic solidarity became a matter of rational choice among alternatives of group belonging (intentional communities) that could bring the greatest “profit” to an individual.

- by Daivi Rodima-Taylor
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- Indebtedness, Mortgages, Subprime Mortgage Crisis, Land Titling
- by Fahrettin Biçici and +1
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- Indebtedness, Maurizio Lazzarato, Antonio Negri and Michael Hardt, SOSYAL POLİTİKA

Microcredit has become a component of global development. Recently, the climate change and disaster community have proposed that it may be able to facilitate climate change adaptation, but whether this is the case remains under-researched. Addressing this gap, this paper examines the question in relation to microcredit's ability to support adaptation strategies that effectively address vulnerability to climate shocks in three villages in the Bagerhat and Chattogram districts of coastal Bangladesh. The findings provide qualitative evidence that at-risk people often use microcredit as a response to climate shocks. However, the case study only finds evidence that microcredit supports coping and incremental adaptation. Findings suggest shocks (some climate-related and some not) can result in reduction in food consumption, erosion of assets, depletion of savings, increased debt, and debt default, 'trapping' at-risk people in indebtedness through a process of cumulative vulnerability. Lack of outreach of microcredit, erosion of assets, supply barriers, and lack of credit alternatives reduce microcredit's potential to address the persistent determinants of vulnerability.

- by Joanne Jordan
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- Climate Change Adaptation, Vulnerability, Bangladesh, Microcredit

Este artículo explica el problema del endeudamiento de los estados, las grandes limitaciones en su estructura de ingresos, los alcances y limitaciones de la normatividad centrándose principalmente en el análisis de la Ley de Disciplina Financiera de las Entidades Federativas y Municipios. El trabajo cumple el objetivo de explicar los aspectos de esta ley, lamentablemente no se comprueba de manera favorable la hipótesis, debido a que esta ley no regula de manera rigurosa el endeudamiento de estados y municipios, es decir, que no pone límites estrictos en la contratación de pasivos. /This article explains the problem of the indebtedness of the states, the great limitations in their income structure, the scope and limitations of the regulations focusing mainly on the analysis of the Law of Financial Discipline of the Federal Entities and Municipalities. The work meets the objective of explaining the aspects of this law, unfortunately the hypothesis is not proven in a favorable way, because this law does not rigorously regulate the indebtedness of states and municipalities, that is, it does not place strict limits on the Recruitment of liabilities.

- by María Concepción Martínez Rodríguez
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- Recruitment, Indebtedness, Income, Endeudamiento

There has been increasing examination of resilience as a concept applicable to climate adaptation. In this paper, resilience is used to explore the layers of responses to past and present climate stress. It examines the factors and circumstances that may hinder or enhance resilience, providing insights into past and present adaptation processes that may be relevant for adaptation to future climate change. Specifically, this paper tests the value of social capital in influencing resilience to climate stress. While there are many examples where social capital influences resilience to climate stress, this paper aims to determine the relative importance of different types of social capital for enhancing resilience, by exploring how relationships of exchange and reciprocity influence responses to climate stress. This study involved case studies of specific communities in the southwest coastal region of Bangladesh. This case study highlights a complex rather than a uniformly positive relationship between social capital and enhancing resilience to climate stress. Specifically, it identifies four types of social capital-based support (with monetary support as a subset) and the interlinkages among the types (and processes) of social capital with diverse effects on resilience. It emphasizes the moral and ethical importance of reconceptualizing resilience with an emphasis on the most vulnerable, as resilience approaches that fail to recognize the differentiated nature of resilience, risk reinforcing vulnerability. Westernized concepts have 2 important benefits, but crucial limitations when applied to the particular conditions, value sets and modes of community working in the south. The uncritical importation of social capital needs to be treated with caution, especially in the context of climate adaptation.

- by Joanne Jordan
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- Climate Change, Social Capital, Resilience (Sustainability), Bangladesh

This essay reads The Civil War in France, Karl Marx’s account of the 1871 Paris Commune, as an example of revolutionary epideictic rhetoric that takes debt as a central unifying trope. Marx deploys the rhetoric of debt as a synecdoche to unify diverse French and international political constituencies around the political project of the Paris Commune. Simultaneously, in the wake of the Commune’s destruction, the trope of debt allows Marx to signal the political potential of the Commune outside its immediate context, inviting thinkers and activists after Marx’s time to invest in the Commune’s project in new and creative ways. I argue that this reading of The Civil War in France contributes to conversations about revolutionary community within Marxian rhetorical studies, as well as furthering discussions of the links between epideictic rhetoric and social change.

- by Matthew Bost
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- Class, Biopolitics, Karl Marx, Commune De Paris 1871

Presentación en Asunción del Paraguay, seminario de la Fundación Ebert, noviembre de 2016

- by Matias Kulfas
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- Latin American Studies, Development Economics, Argentina, External Debt
- by Naoko Washizu and +1
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- Gratitude, Psychological Well Being, Indebtedness, Surgical

In this article, the intersection of the economic and social dimensions of thrift is analysed under the special condition of debt. The debt context serves as a focal glass exposing agents, their social practices and strategies of accumulation capitals with regard to appropriate spending. In order to capture the many layers of thrift, the concept of moral economies is applied. This concept tries to reconcile two seemingly divergent dimensions of human behaviour which can be described as individualistic, calculating and serving a self-interest (economy) on the one hand and community-oriented and benefitting a common good (morality) on the other hand. Starting out with an overview over studies on moral economies in historical and social science since the early 1970s, I will explain the heuristic use of the concept for the case of debts research and apply it to representations of thrift as visualised and popularised in the reality TV shows Raus aus den Schulden (Getting Out of Debt) and...

- by Silke Meyer
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- Subjectivity, Moral Economy, Indebtedness, Cultural Values of Thrift

This paper engages with debates around microcredit, once a development success story, but now much critiqued. Arguing that microcredit can only be understood within the wider context of debt, we draw on ethnographic material from two villages in Tamil Nadu, to examine how microcredit through self-help groups sits within a broader context of indebtedness among the rural labouring classes. We describe patterns and sources of borrowing among the poor, the ways in which debts are managed, negotiated and settled within households and the ways in which the management of debt is mediated by gender, caste, class and aspiration. The paper calls for a more nuanced understanding of debt: some debts are seen as 'good' and others as 'bad'. We explore the ways in which microcredit, channelled through self-help groups, is-against much contemporary criticism-perceived by women borrowers in our study villages as a source of 'good debt' and praised as an enabling factor in their everyday household management as well as in aspirations for mobility and development. We also argue that microcredit can have positive impacts by enabling social investments that enhance status and reduce dependency.

- by Geert De Neve
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- Tamil Nadu, India, Microcredit, Self Help Groups

This paper addresses a particular aspect of financialisation: how mortgages taken out by ordinary people in order to become home owners have been the object of securitisation processes, that is to say, have been used by banking institutions to issue financial derivatives that are then sold to investors. Despite taking place on the abstract arena of financial markets, this process has crucial consequences for people's livelihoods, as it is anchored on a material resource: housing. The world of finance has thus an impact on the satisfaction of a basic human need. Drawing on an ethnographic research among those affected by home repossessions in Spain, it will be examined 1) how financialisation has a direct impact on the lives of mortgage borrowers, especially as they face economic hardship, and 2) how ‘folk’ understandings of financial products, and the practical knowledge associated to it, are challenging expert discourses, while claiming for the restoration of moral principles u...

- by Irene Sabaté
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- Economics, Anthropology, Securitization, Financialization

This study explores the relation between Bt cotton adoption and farmer suicides in India. This is undertaken through comparing the debt levels of Bt cotton cultivators with those adopting alternative organic and Non-Pesticide Management (NPM) methods. The study involves a total of 26 participants in three villages in Telangana, India. It argues that measures of indebtedness need to be adopted as part of assessments of both Bt cotton and development policy.

- by Elaine L Desmond
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- Sociology, Economics, Development Economics, Anthropology

This article engages with contemporary debates about debt and money from the vantage point of an ethnographic study of unregulated, small-scale moneylending business who continues to operate in the township of Soweto's poorer neighbourhoods. Following Peebles' argument that reading poor people's unwillingness to bank with formal institutions as a sign of ignorance is unwarranted, this article describes persistent dynamics of underground credit markets and personalized credit relationships, demonstrating how the practice of ukumashonisa (extending cash money as credit) by neighbourhood lenders are embedded in social fields shared by lenders and borrowers. This article further demonstrates how the vilification of the figure of the township moneylender (mashonisa) by a broad coalition of civil society groups, trade unions, the state and commercial financial institutions, assisted in the financialization of poor people's monies. This public consensus about the depravity of the neighbourhood moneylender is not shared by all Sowetans, especially poor and unemployed Sowetans who have been pushed into a greater dependency on both money and intense personalized social relationships as they try to survive. Seeking out personalized credit relationships, and turning debt transactions, contracts and relationships with local moneylenders into exchanges that take on the appearance of gifts rather than commodity exchanges, continues to remain a strategy for people who are no longer able to count on stable wage work as their primary source of income.

- by Detlev Krige
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- Economic Anthropology, Informal Economy, Financialization, Anthropology of Money

JEL classifications: F230 L250 L830
a b s t r a c t The macroeconomic context is an extremely important factor for the growth and development of companies , and for the hotel sector, being expected that the performance of hotel companies should be strongly dependent on the conditions and the macroeconomic environment where they are inserted. Using a panel data methodology, this research analyzed the growth of hotel companies, the size of hotel companies, total number of guests in the sector, total revenues, and total income of the sector, with the corporate indebtedness variable, given by total liabilities/total assets ratio. It is concluded that 91.5% of the average variation in the corporate indebtedness is determined by the remaining variables of the study, with the remaining 8.5% variation explained by other factors not specified. It is also concluded that there is no statistically significant difference between the values of the corporate size variable throughout the study, existing a negative relation between this variable and the variables corporate size, number of guests, and tourism revenue, and a positive relation with the variables corporate growth rate and total income of the hospitality industry. This research provides a great contribution and enrichment of existing literature because with a detailed knowledge concerning these topics, managers' can base their decision making on these cause and effect relationships, looking for the best decisions that will provide the highest profitability.

- by Pedro Ribeiro Mucharreira
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- Tourism Studies, Tourism Management, Tourism, Indebtedness