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Just Debt: Theology, Ethics, and Neoliberalism

Amazon.com Price:  $35.95 (as of 12/05/2019 20:06 PST- Details)

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Description

Debt―personal, corporate, governmental―is so pervasive in latest economies, with its moralistic logic nearly unquestioned. Debt’s necessity renders it morally neutral, absolving it of the dehumanizing effect it brings in unbridled financialization.
 
In Just Debt Ilsup Ahn explores ethical implications of the practice of debt. By placing debt in the context of anthropology, philosophy, economics, and the ethical traditions provided by the Abrahamic religions, Ahn holds that debt used to be at the start a form of gift, a gift that used to be intended as a means to serve humanity. Debt, as gift, had moral ends. Since the late eighteenth century, on the other hand, debt has been reduced to an amoral economic tool, one separated from its social and political context. Ahn recovers an ethics of debt and its moral economy by rediscovering debt’s forgotten aspect―that all debts entail unique human stories. Ahn argues that it is just in and by these stories that the justice of debt may also be decided. In order for debt to be justly established, its story should be free from elements of exploitation, abuse, and manipulation and should conform to the principles of serviceability, payability, and shareability.
 
Although the latest global economy disconnects debt from its context, Ahn argues that debt should be firmly grounded on the planet of moral values, social solidarity, and political resolution. By re-embedding debt within its moral world, Just Debt offers a holistic ethics of debt for a neoliberal age.

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