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IOU: The Debt Threat and Why We Must Defuse it

IOU: The Debt Threat and Why We Must Defuse it (Paperback, New edition)

By Hertz, Noreena

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We are bombarded with images of poverty, terrorism, war and collapsing states. Do we ever question what the root cause of these problems might be? Noreena Hertz, one of the world's leading experts on economic globalization, tackles Third World Debt as a situation that must be res...olved if we are ever to see global stability. For every USD1 the West gives to developing countries in aid, developing countries pay the West USD9 in debt service. At the beginning of the new millennium we are witnessing a global debt crisis of unprecedented size. Sub-Saharan Africa owes USD200 billion, Brazil USD223.8 billion, Argentina USD155 billion. Why does this matter? In this shocking, ground-breaking book, Noreena Hertz shows that these numbers matter because they account for millions of people dying of AIDS; for the rainforests being cut down; for poverty, illiteracy, terrorism and war. These numbers matter because they will affect all of our lives if the balance is not redressed. IOU is a story of avarice but also of vulnerability; of power asymmetries and misuse of influence; of corrupt dictators and careless lenders; of Cold War interests and Wall Street pressure; of third world governments who get given it, and third world people who have no access to it. Noreena Hertz, one of the world's leading experts on economic globalisation, argues that this is not an issue of left or right: it is an issue of right versus wrong, of peace versus war. It must be addressed now.
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ISBN 9780007178995
Released NZ 29 Jul 2005
Publisher HarperCollins Publishers
Format Paperback, New edition
Title is temporarily out of stock

Full details for this title

ISBN-13 9780007178995
Stock Available
Status Title is temporarily out of stock
Publisher HarperCollins Publishers
Imprint HarperPerennial
Released 29 Jul 2005
Publication Country United Kingdom United Kingdom
Format Paperback, New edition
Edition New edition
Author(s) By Hertz, Noreena
Category Politics & Government
International Economics
Number of Pages 304
Dimensions Width: 129mm
Height: 198mm
Spine: 18mm
Dewey Code 336.3435091724
Weight 210g
Interest Age General Audience
Reading Age General Audience
NBS Text Current Affairs & Issues
ONIX Text General/trade