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- W1973618772 abstract "Abstract This paper reviews a series of proposals for dealing with the debt crisis. It also considers the economic philosophies which underpin contrasting proposals. Three main schools of thought are reviewed. Section 2 considers the views of the system-stability theorists (including Beenstock and Cline). System-stability theorists assume that Third World debts will be made good once the adoption of sound money policies provides for real and sustained growth in the world economy. They further assume that the debt crisis results from a temporary crisis of liquidity which must be dealt with on a country-specific basis. Section 3 examines the work of the system-instability theorists (including Brandt, and Griffith-Jones and Sunkel). Such theorists see in the debt crisis a serious threat to world economic stability which results from a crisis of global solvency. They urge concerted and collective action in debtor and surplus nations to avoid a worsening crisis. They also highlight a damaging link between debt and underdevelopment. Section 4 reviews the work of selected Marxian political economists. It considers the view that the debt crisis is one manifestation of a deeper crisis in the process of capital accumulation and regulation." @default.
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- W1973618772 date "1988-01-01" @default.
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- W1973618772 title "The debt crisis and the crisis of global regulation" @default.
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- W1973618772 doi "https://doi.org/10.1016/s0016-7185(88)80008-3" @default.
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