The first feminist critique of the much-lauded microcredit process in Bangladesh.

Although microcredit programmes have long been considered efficient development tools, many forms of debt-induced distress have emerged in their wake. This has brought to light the problem of over-indebtedness, a topic which has been previously underexplored in the literature. This new book, from a group of leading scholars, explores the manifestations, scale, and economic and social implications of household over-indebtedness in areas conventionally considered as financially excluded. The book approaches debt not only as a financial transaction, but also as a form of social bond, and offers a socioeconomic analysis of over-indebtedness. The volume puts forward a broad definition of over-indebtedness, highlighting its situational and semantic complexity and diversity. It provides a close analysis of local conceptions of debt and over-indebtedness, highlighting frameworks of calculation and the constant renegotiation of their boundaries. On top of this, it looks far beyond microcredit to examine all the financial practices that individuals juggle. The volume argues that over-indebtedness has more to do with social inequalities than financial illiteracy, and should therefore be understood in the light of global trends of financialization. It also reveals the ambiguity of "financial inclusion" policies, and in many respects questions the actions of new credit providers. This book will be valuable reading for students, researchers and policy makers interested in microfinance and development issues.

This book demonstrates, from a historical and an economic point of view, how the female contribution has been so determinant in the success of our species, and how it is linked to male dominance. Male hunting and female gathering were the two forces of production during 99% of the life of mankind on Earth. Ethnographic evidence shows that female gathering is more productive and less time-consuming than male hunting. Therefore, the prehistoric communities of Homo sapiens could manage their social labor-time in the most productive way, only if women lent their time to men through the supply of basic energy: a debt that men incurred since the dawn of history, but never acknowledged. It is time now to give the gender economic relations the crucial place they deserve in a theory of human cooperation and sociality, without forgetting that it is necessarily a theory of social inequality.

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Leader of Latin America’s powerful new women’s movement rethinks the meaning of feminist politics Recent years have seen massive feminist mobilizations in virtually every continent, overturning social mores and repressive legislation. In this brilliant and original look at the emerging feminist international, Verónica Gago explores how the women’s strike, as both a concept and collective experience, may be transforming the boundaries of politics as we know it. At once a gripping political analysis and a theoretically charged manifesto, Feminist International draws on the author’s rich experience with radical movements to enter into ongoing debates in feminist and Marxist theory: from social reproduction and domestic work to the intertwining of financial and gender violence, as well as controversies surrounding the neo-extractivist model of development, the possibilities and limits of left populism, and the ever-vexed nexus of gender-race-class. Gago asks what another theory of power might look like, one premised on our desire to change everything.

Chile is widely known as the first experiment in neoliberalism in Latin America, carried out and made possible through state violence. Since the beginning of the transition in 1990, the state has pursued a national project of reconciliation construed as debts owed to the population. The state owed a "social debt" to the poor accrued through inequalities generated by economic liberalization, while society owed a "moral debt" to the victims of human rights violations. Life in Debt invites us into lives and world of a poor urban neighborhood in Santiago. Tracing relations and lives between 1999 and 2010, Clara Han explores how the moral and political subjects imagined and asserted by poverty and mental health policies and reparations for human rights violations are refracted through relational modes and their boundaries. Attending to intimate scenes and neighborhood life, Han reveals the force of relations in the making of selves in a world in which unstable work patterns, illness, and pervasive economic indebtedness are aspects of everyday life. Lucidly written, Life in Debt provides a unique meditation on both the past inhabiting actual life conditions but also on the difficulties of obligation and achievements of responsiveness.

About 1.5 million households filed bankruptcy in the last year, making bankruptcy as common as college graduation and divorce. The recession has pushed more and more families into financial collapse—with unemployment, declines in retirement wealth, and falling house values destabilizing the American middle class. Broke explores the consequences of this unprecedented growth in consumer debt and shows how excessive borrowing undermines the prosperity of middle class America. While the recession that began in mid-2007 has widened the scope of the financial pain caused by overindebtedness, the problem predated that large-scale economic meltdown. And by all indicators, consumer debt will be a defining feature of middle-class families for years to come. The staples of middle-class life—going to college, buying a house, starting a small business—carry with them more financial risk than ever before, requiring more borrowing and new riskier forms of borrowing. This book reveals the people behind the statistics, looking closely at how people get to the point of serious financial distress, the hardships of dealing with overwhelming debt, and the difficulty of righting one's financial life. In telling the stories of financial failures, this book exposes an all-too-real part of middle-class life that is often lost in the success stories that dominate the American economic narrative. Authored by experts in several disciplines, including economics, law, political science, psychology, and sociology, Broke presents analyses from an original, proprietary data set of unprecedented scope and detail, the 2007 Consumer Bankruptcy Project. Topics include class status, home ownership, educational attainment, impacts of self-employment, gender differences, economic security, and the emotional costs of bankruptcy. The book makes judicious use of illustrations to present key findings and concludes with a discussion of the implications of the data for contemporary policy debates.

Introduction : public debt, inequality and power -- The spectacle of a highly centralized public debt -- The bondholding class resurgent -- Fiscal conflict : past and present -- Bonding domestic and foreign owners -- Who rules the debt state? -- Conclusion : informing democratic debate -- Appendix : accounting for the public debt

A profound portrait of the hidden injustices that trap fathers in a cycle of punishment and debt. In the first study of its kind, sociologist Lynne Haney travels into state institutions across the country to document the experiences of the millions of fathers cycling through the criminal justice and child support systems. Prisons of Debt shows how these systems work together to create complex entanglements—rather than "piling up" in men's lives, these entanglements form feedback loops of disadvantage. The prison–child support pipeline flows in both directions, deepening parents' debt and criminal justice involvement. Through moving accounts of men struggling to be fathers from behind prison walls and under the weight of support debt, Prisons of Debt exposes how the criminalization of child support undermines the most essential of familial relationships. Haney argues that these state systems can end up producing exactly the kind of parent they fear and loathe: bitter, unreliable, and cyclical fathers. Based on observations of 1,200 child support cases and interviews with 145 indebted fathers in New York, California, and Florida, Prisons of Debt reveals the actual practices of child support adjudication and enforcement alongside the lived realities of fathers trapped in those systems. The result is a rigorously documented analysis of how poor men are too often denied their rights of citizenship and of fatherhood.