Debt and democracies. Debt, currencies and societies: on the ‘Defence of Wealth’, part 1

Dette et démocraties. Dettes, monnaies et sociétés: sur la "Défense de la richesse", part 1

Frédéric Farah and Jérôme Maucourant ()
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Frédéric Farah: PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne
Jérôme Maucourant: TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique

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Abstract: The debt issue returned to centrality after the 2008 crisis and even more so under the impact of the COVID 19 pandemic, with governments making considerable spendings. An attempt of synthesis between the institutionalist approach and Jeffrey Winters' framework of analysis on the defence of wealth is at the heart of this contribution which tries to show how institutions create a more favourable environment for creditors, much more effectively than through violence. From this would be born a paradox, that of seeing the spreading, in democratic societies, of unprecedented disparities in wealth.

Keywords: Federalism; John. R. Commons; Debt Crisis; Wealth Defence; John R. Commons; Institutionalism; Défense de la richesse; fédéralisme; institutionnalisme; dette (search for similar items in EconPapers)
Date: 2022
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03686537v1
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Published in Kefallonitis, Stavroula. Dette et politique, Presses Universitaires de Franche-Comté, pp.205-225, 2022, 978-2-84867-921-1

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