Ethics and Etiquette of Third World Debt [Abstract]

Ethics & International Affairs, Volume 1 (1987)

Third World debt, seen as distant from the realm of international affairs and ethics, is often subject to abstract economic analysis. Peter Bauer argues that in fact the way in which debt is addressed by debtors and lenders is heavily politicized and should be subject to ethical considerations. Many Third World countries choose to prolong debt even though they are capable of repaying it; moreover, the methods of gauging and reporting current income are spurious and subject to manipulation by countries' trade policies. The ethical questionability of some Third World practices is matched by equally questionable activity in the West. Special interest groups' agendas and banks' eyes for profits influence economic policy in favor of Third World countries, further increasing their debt. Bauer's discussion of these issues of denial and permissiveness depicts Third World debt as a political transaction that wrongly escapes ethical judgement.

To read or purchase the full text of this article, click here.

Read More: Ethics, World Economy, Ethics, Finance and DevelopmentGlobal Economic Justice, International Debt,

blog comments powered by Disqus
Search Our Site

People  |  Advanced Search

In this Issue of the Journal
Join our Mailing Lists
Online Magazine

Online Magazine

Social Network

Social Network

The Journal

The Journal