Student Loans & Bankruptcies

[Yoshie Furuhashi]

>Just a question for the student loan default thread.
>
>What's the difference between students who default on their loans in a
>society that should be offering education for free in the first place,
>and whole countries who default on their IMF/WB loans in a global
>order that fully intends to exploit their productivity capacity---just
>as the petty local capitalists intend to exploit whatever they can
>from the student's education?
>
>Chuck Grimes

In the cases of both student debts & third world debts, neoliberalism 
can be in part thought of as the redistribution of money from debtors 
to creditors.  Therefore, in both cases, even individual defaults -- 
*if* they pile up, one after another, dramatically -- could be 
politically significant, though of course collective defaults -- via 
a debtors' cartel -- would be preferable.

Yoshie