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Topic: Debt peonage

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	sociology - Debt bondage
		Peonage means an unfree labour system where laborers are bound in servitude until their debts are paid in full.
		According to Marxist economists, debt bondage is characteristic of feudal economies, where families are considered the responsible unit for financial relationships, and where heirs continue to owe parents' debts upon their deaths.
		Debt bondage is a form of disguised slavery in which the subject is not legally owned, but is instead bound by a contract to perform labor to work off a debt, under terms that make it impossible to completely retire the debt and thereby escape from the contract.
	www.aboutsociology.com /sociology/Debt_peonage (833 words)

	PEONAGE,
		In the 19th century, after the nations of Latin America achieved independence, debt peonage was instituted and became the basis of the economic system.
		The peon, in debt to the employer for both money and supplies, was bound to labor in the mines or plantations until the debt was paid.
		Often the debt was so exaggerated that the peonage had to be handed down from generation to generation; but in the 20th century, laws prohibiting such servitude were passed.
	www.history.com /encyclopedia.do?articleId=218913 (355 words)

	peonage - Encyclopedia.com
		As the natives fell into debt and lost their own land, they were reduced to peonage and forced to work for the same employer until his debts and the debts of his ancestors were paid, a virtual impossibility.
		By 1910 court decisions had outlawed peonage, but as late as 1960 some sharecroppers in Southern states were pressured to continue working for the same master to pay off old debts or to pay taxes, which some states had levied to preserve the sharecropping system.
		She said debt peonage is so deeply embedded in the culture of...
	www.encyclopedia.com /doc/1E1-peonage.html (1527 words)

	Debt trap peonage - Nigeria's foreign debt Monthly Review - Find Articles
		Debt service charges are expected to consume 3.272 pounds sterling billion $4.9 billion), some 38.47 percent of our 1984 export revenue of 8.5 billion pounds sterling ($12.75 billion); that is without including service charges on the $5.5 billion trade debt that we are anxious to convert into long-term debt.
		Unable to pay off their debts and powerless to survive the dire consequences of repudiating them, these countries are obliged to continue in permanent underdevelopment, supplying low priced raw materials to their industrial creditors and unable to concentrate their attention and resources on developing their economies in their own interest.
		Second, both loans are pure peonage loans, that it, loans made not because of the potential of the project the loan is to be used for, but simply in order to secure legal control over the economic and political behavior of the debtor.
	www.findarticles.com /p/articles/mi_m1132/is_v37/ai_4000399 (952 words)

	Debt bondage - InfoSearchPoint.com (Site not responding. Last check: 2007-11-01)
		Debt bondage "has been defined by the United Nations as a form of modern day slavery" [1] and is prohibited by international law.
		According to Marxist economists, debt bondage is characteristic of feudal economies, where families are considered the responsible unit for financial relationships, and where heirs continue to owe parents' debts upon their deaths.
		Debt bondage is a form of disguised slavery in which the subject is not legally owned, but is instead bound by a contract to perform labor to work off a debt, under terms that make it impossible to completely retire the debt and thereby escape from the contract.
	www.infosearchpoint.com /display/Peonage (806 words)

	FairEconomy.org - Moral Bankruptcy Prevails
		Call it debt slavery or debt peonage: whatever your preference, it has been reinstated.
		For example, if someone lost their job, went into debt, and failed to make their mortgage payments, they would no longer be able to protect more than $125,000 of equity in their home using the bankruptcy law unless they had owned their home for over 40 months.
		Further, the handling of the Hurricane Katrina disaster, the lowering of wages in New Orleans with the suspension of the Davis Bacon Act (a decision that has since be reversed under popular pressure), and now this new anti-people “debt peonage law” demonstrate that in high places—moral bankruptcy prevails.
	www.faireconomy.org /press/2005/MoralBankruptcy.html (1185 words)

	While scholarly literature is replete with data on the political gains made by freedmen during Reconstruction, the ...
		Closely related to the sharecropping system was debt peonage, another form of labor exploitation that was pervasive in Spanish-speaking America, including the Chiapas of B, Traven's novels, and that also had ancient roots.
		Peonage occurred only when the planter forbade the cropper to leave the plantation because of debt.
		Peonage rested on debt, but the debtor had to be restrained for the legal definition to be fulfilled.
	www.columbia.edu /~lnp3/mydocs/origins/post3.htm (2366 words)

	The Development and Historical Context of the Debt Crisis
		From then on the accumulation of third world debt was geometric and the only way by which the system could continue was for debts to be continually recycled to maintain the legitimacy of as well as the Third World's dependence on debt.
		When debt relief is conditioned on the installation of the very policies that recreate the conditions, which breeds the debt problem then it is an insult to the victims of the debt.
		The debt crisis is a systemic crisis and we must link our critique of the unjust international economic system; our critique of debt peonage must be linked to our critique of the monopoly capitalist system.
	www.isgnweb.org /pub/05-003.htm (7077 words)

	ZNet \|Corporate Globalization \| Debt
		And yet discussion of debt is generally pitched in the very terms of the neo-colonial gangsters who deliberately drove their victims down into poverty in the first place.
		The fact that discussion around debt by these organizations seldom if ever raises the issue of reparations of colonial war crimes committed by their countries' governments or environmental crimes committed by their countries' multinational energy and mining corporations is very relevant.
		Current efforts to secure a just cancellation ofÂ poor countries foreign debt will continue to fail because rich countries are never going to relinquish control of the global resources they need to sustain their societies' profligate, greedy, inherently unjust life-styles.
	www.zmag.org /content/showarticle.cfm?SectionID=13&ItemID=8162 (2224 words)

	News -- Thisday Editorial: Politics of debt
		A greater percentage of Nigeria's $33 billion debt is owed to this club of creditors.
		They always know that the debt trap is conscious imperialist trap to hold poor countries to ransom.
		They pointed to the fraud in the computation of the debts, in thefirst place, and concluded that debts were no more than instruments of holding poor countries in neo-colonial bondage.
	odili.net /news/source/2004/sep/22/227.html (412 words)

	The Debt-Peonage Society by Paul Krugman
		The bill would make it much harder for families in distress to write off their debts and make a fresh start.
		Other amendments were aimed at protecting families and individuals who have clearly been forced into bankruptcy by events, or who would face extreme hardship in repaying debts.
		Warren Buffett recently made headlines by saying America is more likely to turn into a "sharecroppers' society" than an "ownership society." But I think the right term is a "debt peonage" society - after the system, prevalent in the post-Civil War South, in which debtors were forced to work for their creditors.
	www.thirdworldtraveler.com /Economics/Debt_Peonage_Society.html (699 words)

	(DV) solo: "Debt": Remaking Procrustes' Bed
		And yet discussion of debt is generally pitched in the very terms of the neo-colonial gangsters who deliberately drove their victims down into poverty in the first place.
		Writing about the latest G-7 “debt” initiative, the European Network on Debt and Development notes that the aid held back under the “debt cancellation” scheme would be administered on the basis of heavy-handed donor country conditionality.
		Current efforts to secure a just cancellation of poor countries foreign debt will continue to fail because rich countries are never going to relinquish control of the global resources they need to sustain their societies’ profligate, greedy, inherently unjust lifestyles.
	www.dissidentvoice.org /June05/solo0628.htm (2420 words)

	The News-Bulletin: New Mexico shares in tragedy of slavery with rest of the country
		A harsh form of debt peonage was practiced in the Southwest until long after the last slave was freed or died in captivity.
		Debt peonage in New Mexico was similar to sharecropping in the post-Civil War South.
		Debt peonage persisted from one generation to the next for decades at a time.
	www.news-bulletin.com /lavida/54394-09-17-05.html (2204 words)

	Debt Peonage and the Art of the Highside (Site not responding. Last check: 2007-11-01)
		The historian Lawrence Goodwyn, refered to the late nineteenth-century system by which farmers were unavoidably sucked into a debtors relationship with the merchants that provided the seed and equipment they needed as "debt peonage".
		Debt peonage is not quite the situation we are in here, but many more crashes or many more years at NYU and the term would probably apply.
		However, I suspect that many individuals overloaded with debt probably think they are in a peonage situation.
	www.peoplesracing.info /art_of_the_highside.htm (2326 words)

	Developing World Loans, Capital Flight, Debt Traps, and Unjust Debt
		The size of a financial warfare debt trap can be controlled to claim all the surplus production of a society and the magic of compound interest assures those unjust debts are unsustainable.
		In classic peonage, workers, though nominally free and legally free, are held in servitude by the terms of their indenture to their masters.
		As of June 1990, Argentinaâs debt traded at a low of 14.75-cents on the $1 while the average price of all developing world debt was 28-cents on the $1.
	www.ied.info /books/ed/debt.html (3647 words)

	ATTAC - Jubilee South South -The Development and Historical Context of the Debt Crisis (Site not responding. Last check: 2007-11-01)
		From then on the accumulation of third world debt was geometric and the only way by which the system could continue was for debts to be continually recycled to maintain the legitimacy of as well as the Third World’s dependence on debt.
		Debt relief schemes at best are publicity stunts to draw away attention from the real causes of the debt.
		When debt relief is conditioned on the installation of the very policies that recreate the conditions, which breeds the debt problem then it is an insult to the victims of the debt.
	attac.org /fra/toil/doc/jubilee.htm (7089 words)

	THE DAMNED
		"This peonage system was the dying gasp of that reign of terror called slavery and the people didn't want to let go of it," Elizabeth Clark‑Lewis, professor of history at Howard University, told me. "Southerners were committed to the subjugation of the African American," she said.
		In some of the worst cases, where the allegations were of simple slavery where debt was not at issue, and federal peonage law did not apply the federal government often referred the case back to the states, where wealthy landowners were protected by corrupt or coerced law enforcement officers.
		New York, June 10: Although Dr. W.R. King, proprietor of an alleged peonage farm in Oglethorpe County, Ga. admitted he struck and whipped Negroes, he denied having used force to keep them on his plantation and was acquitted of the peonage charge by a federal court jury in Athens, Ga..
	www.greatlinx.com /peonage.htm (4430 words)

	Debt Relief And The New Colonialism
		The creditors are as culpable as the debtors for the confounding debt crisis.
		Furthermore, there is absolutely no reason why we should not have adopted and intensified the reparations campaign of the late MKO Abiola thus balancing the debt claims of the creditors with the even more devastating impact of the slave trade and colonialism on the psyche as well as social, political and economic systems of Africa.
		As we await the Policy Support Instrument (PSI), which we are to negotiate with the IMF as a condition for debt relief, I foresee this deal ushering in a new era of recolonisation of Nigeria.
	www.dawodu.com /ayobolu1.htm (1465 words)

	Antipeonage Act Web Site
		Peonage is thus legally required labor to pay a debt or obligation.
		Libertarian Party Presidential Candidate Michael Badnarik is now on record as saying that imprisonment for child support is PEONAGE, and he promises to direct the civil rights divisions of the Department of Justice to crack down on states that in their family law practices violate the 13th Amendment, the 14th Amendment, and the Antipeonage Act.
		New Mexico used its peonage system to enforce all kinds of debts and obligations: debts arising from express or implied contracts, awards for attorney's fees, tort judgments, and the duty of a husband to support his wife and children, whether divorced or not.
	www.antipeonage.0catch.com (9132 words)

	d. Economic Conditions. 2001. The Encyclopedia of World History
		Mestizo and Indian workers went to the mines as free laborers attracted by higher wages, though eventually many became trapped in their place of employment by debts, and a system of debt peonage developed.
		Throughout the Spanish domains—especially in the Caribbean and coastal areas—sugar plantations and mills evolved on the basis of slave labor, while haciendas used forced Indian labor (mita in Peru and repartimiento in New Spain) and resorted to debt peonage to retain workers.
		Between 1590 and 1620, the crown ordered legalization of illegal occupation of land through a procedure called composiciones de tierras, which allowed the consolidation of haciendas.
	www.bartleby.com /67/911.html (1041 words)

	peonage - Search Results - MSN Encarta
		Peonage, system of servitude, formerly common in Latin America, particularly in the area now comprising Mexico.
		Concentration of land ownership during the Porfiriato, coupled with the loss of communal holdings, made it difficult for people to practice...
		- debt-repayment system: in Latin America and the southern United States, a former system under which a debtor was forced to work for a creditor until a debt was paid
	encarta.msn.com /peonage.html (143 words)

	PBS: Goin' To Chicago - A Documentary Film by George King - Classroom Resources
		Debt was as central to sharecropping as cotton.
		Falling ever deeper into debt, they were compelled to pledge the next year’s crop as payment.
		Thus a system of debt peonage replaced slavery, ensuring a cheap supply of labor to grow cotton and other crops while condemning African-Americans to grinding poverty.
	www.pbs.org /gointochicago/learning/after2.html (427 words)

	Involuntary Servitude and Peonage
		Section 1581 of Title 18 makes it unlawful to hold a person in "debt servitude," or peonage, which is closely related to involuntary servitude.
		The offense is punishable by a range of imprisonment up to a term of ten years, depending upon the circumstances of the crime.
		(a) Whoever holds or returns any person to a condition of peonage, or arrests any person with the intent of placing him in or returning him to a condition of peonage, shall be fined under this title or imprisoned not more than 10 years, or both.
	www.usdoj.gov /crt/crim/1581fin.htm (338 words)

	Odious Debts - Nigerian threat to repudiate helps force Paris Club to deliver debt cancellation
		While Jubilee USA Network and other civil society groups welcome the Paris Club's move to write off a substantial portion of Nigeria's debt, groups expressed specific reservations on the deal, including the terms of the debt buyback and the involvement of the International Monetary Fund (IMF), which is not a Nigerian creditor.
		Since the debt, by President Obasanjo's own admission, is of dubious origin, the issues of the responsibilities of the creditors must be put on the table at the Paris Club.
		As desirable as an exit from debt peonage is, it is scandalous for a poor debt distressed country, which cannot afford to pay $2 billion in annual debt service payments, to part with $6 billion up front or $12 billion in three months or even one year."
	www.odiousdebts.org /odiousdebts/index.cfm?DSP=content&ContentID=13931 (792 words)

	Vanguard -Viewpoint : Debt relief as tragedy
		The approach to debt management buried in them is so much hostage to this third dimension that the unsuspecting may be tempted to believe that the decisions are being taken by the Nigerian state.
		Because Nigeria, under Obasanjo, has preferred the will o’the wisp of debt forgiveness, the smart alecs of the international market-place (amongst whom many Nigerians are to be counted) have been lining up to collect their fees for one jousting for scheduling, rescheduling, defaults, and buy backs and what have you.
		What is beguiling about the debt forgiveness binge is that in order to have it, Nigeria’s debt managers had to unnecessarily put the noose of IMF conditionalities as holy writs and albatrosses around their own necks.
	www.vanguardngr.com /articles/2002/viewpoints/vp525082005.html (4722 words)

	VHeadline.com - Toni Solo: The way out of “debt” and injustice: history again (Site not responding. Last check: 2007-11-01)
		The fact that discussion around debt by these organizations seldom if ever raises the issue of reparations of colonial war crimes committed by their countries' governments or environmental crimes committed by their countries' multinational energy and mining corporations is very relevant.
		For example, costs associated so far with the debt reduction of the poorest countries of the world under the original and enhanced HIPC Initiative is (sic) estimated at $50 billion".
		Current efforts to secure a just cancellation of poor countries foreign debt will continue to fail because rich countries are never going to relinquish control of the global resources they need to sustain their societies' profligate, greedy, inherently unjust life-styles.
	www.vheadline.com /readnews.asp?id=39174 (2520 words)

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