Criticism of Debt

Criticism Of Debt

This article is about criticism of, and arguments against debt.

There are many arguments against debt as an instrument and institution, on a personal, family, social, corporate and governmental level. Usually these refer to conditions under which debt should not be used as a solution, e.g. to fund consumption for survival. Consumer debt and public debt deal with some of these issues. Calls for debt relief to the developing countries have been more and more insistent since the 1980s Latin American debt crisis, and, more recently, the Argentine economic crisis. Developing countries' debt has often been qualified as an odious debt and a mean of neocolonialism, in particular by "third-worldism" (tiers-mondisme) and the more recent alter-globalization movement.