Student Loans & Bankruptcies

Yoshie Furuhashi furuhashi.1 at osu.edu
Sat Apr 21 14:55:48 PDT 2001



>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



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