The Case for Debt Resistance

Source: Ann Larson, New Labor Forum, Vol. 23 no. 2, May 2014
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….The idea that a degree leads to a decent life, however, is false, and not just for the young. Currently, more than 60 percent of student debtors are over thirty years old, and many retirees have reported having their social security checks garnished by student loan creditors. The struggle against such illegitimate debt and for a robust funding of public goods is a part of the movement against privatization, which is itself part of the global anti-austerity movement against neoliberal structural adjustment programs being deployed across the world, from Detroit to Athens. In that context, an analysis of debt can provide precisely the deeper understanding of capitalism that some critics are asking for. ….