In this book Ann Pettifor examines the issues of debt affecting the first world or OECD countries. She traces the history and roots of where the current international debt crisis comes from--economic liberalization--and the restructuring of the international financial architecture in the early...

Examining historical sovereign debt crises in developing and transition economies, this text concludes that these occurrences have been economic and social catastrophes and are likely to happen again in the future due to the 'boom and bust' nature of economic cycles