Till Death Do Us Part: The Marriage of Debt and Growth

Postwar GDP growth has been fueled by debt cycles. This debt-growth system may have reached its limits. Whole populations, in the cities and countryside—in the global South as well as the North—are groaning under unsustainable debt burdens. Drastic climate change can only be averted by degrowth. This essay analyzes the debt-growth system and points in the direction of an economy run on socially productive credit.