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Discipline and Punish: The New Right and the Policing of the International Debt Crisis

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The Politics of Global Debt

Part of the book series: International Political Economy Series ((IPES))

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Abstract

The international debt crisis continues to have a devastating impact on poor households in Africa, in Latin America and in parts of South-East Asia. In low-income Africa the misery of famine and civil war has been compounded by a debt burden which caused a net transfer of funds from the region equivalent to 35 per cent of total exports. In Latin America average living standards have yet to return to the levels set in 1976. Over five years a net total of $110 bn drained from the region and the economies of Peru and Argentina now stand on the brink of collapse as debt management programmes flounder amidst hyperinflations. Total Third World debt is now over US$1.35 trillion, and ‘each child in Latin America is born into a nominal US$2000 share of external debt’ (Sachs; 1989; Mayo, 1992).

The contributor, editor and publishers wish to thank Pergamon Press for permission to reproduce this article first published in Geoforum, 22 [3]: pp. 285–301 in 1992.

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Authors
  1. Stuart Corbridge
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Editor information

Editors and Affiliations

  1. Staffordshire University, Stoke on Trent, UK

    Stephen P. Riley (Senior Lecturer in Politics) (Senior Lecturer in Politics)

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© 1992 Pergamon Press Ltd

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Corbridge, S. (1992). Discipline and Punish: The New Right and the Policing of the International Debt Crisis. In: Riley, S.P. (eds) The Politics of Global Debt. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22820-1_2

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