Debt cancellation is an essential feature of a degrowth strategy. If degrowth means reduced economic activity, then that reduced activity will not be able to fund debt repayment (which is predicated on continued economic growth). But exactly how to cancel debt in a fair and orderly way is not at all clear. At least I have not been able to find a specific plan as to how it could be done. Not having such a plan is a serious obstacle to the "planned descent" that degrowth advocates. This is an area that needs some creative thinking.
Thanks for sharing Erin.
I love this and totally agree that we need a Jubilee. Thank you for sharing this justice idea, Matt.
Debt cancellation is an essential feature of a degrowth strategy. If degrowth means reduced economic activity, then that reduced activity will not be able to fund debt repayment (which is predicated on continued economic growth). But exactly how to cancel debt in a fair and orderly way is not at all clear. At least I have not been able to find a specific plan as to how it could be done. Not having such a plan is a serious obstacle to the "planned descent" that degrowth advocates. This is an area that needs some creative thinking.
I’ve been following Debt For Climate for a while, they seem to have the right idea: https://www.debtforclimate.org/