@article{ART002093253},
author={Ilsup AHN},
title={Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt},
journal={탈경계인문학Trans-Humanities},
issn={2092-6081},
year={2013},
volume={6},
number={1},
pages={5-32},
doi={10.22901/trans.2013.6.1.5}
TY - JOUR
AU - Ilsup AHN
TI - Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt
JO - 탈경계인문학Trans-Humanities
PY - 2013
VL - 6
IS - 1
PB - Ewha Institute for the Humanities: EIH
SP - 5
EP - 32
SN - 2092-6081
AB - The great financial crisis of 2007-08 is a global showcase of how profoundly erroneous modern neoliberal capitalism can be. Given that at the core of this crisis lies the abusive economy of debt, which includes not only household debt but also corporate financial debt, this paper thematizes specifically the abuse of debt from a moral-political perspective. More specifically, by critically engaging in comparative discourse between Karl Marx and Jürgen Habermas, I develop an argument that the abusive economy of debt should be deconstructed through the reconstructive political economy of debt. To be more specific, I present two fundamental ethical principles in reconstructing the political economy of debt: the “principle of nonviolence” and the “principle of remuneration.” The “principle of nonviolation” stipulates that it becomes an unethical appropriation of the economy of debt when debt plays the abusive role of violating the fundamental human rights of the debtor by the creditor. While the “principle of nonviolation” primarily addresses the abuse of debt occurring on an interpersonal level, the “principle of remuneration” mainly focuses on the abuse of the economy of debt on an international horizon such as Southern debt crises. The second ethical principle, the “principle remuneration” stipulates that it is imperative for the North to forgive the external debt (particularly odious debts) of the South, because Southern debt crises largely originate in the political economy of the North. Through political economy of debt, we not only protect debt from its abusers but also promote the mutual good between debtors and creditors in society. Ultimately, this paper presents a moral-political solution to liberate debt from the abusive and reductive economy of debt.
KW - Karl Marx;Jürgen Habermas;Capital;crisis of global capitalism;political economy of debt;discourse ethics;abuse of debt;debt economy
DO - 10.22901/trans.2013.6.1.5
ER -
Ilsup AHN. (2013). Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt. 탈경계인문학Trans-Humanities, 6(1), 5-32.
Ilsup AHN. 2013, "Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt", 탈경계인문학Trans-Humanities, vol.6, no.1 pp.5-32. Available from: doi:10.22901/trans.2013.6.1.5
Ilsup AHN "Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt" 탈경계인문학Trans-Humanities 6.1 pp.5-32 (2013) : 5.
Ilsup AHN. Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt. 2013; 6(1), 5-32. Available from: doi:10.22901/trans.2013.6.1.5
Ilsup AHN. "Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt" 탈경계인문학Trans-Humanities 6, no.1 (2013) : 5-32.doi: 10.22901/trans.2013.6.1.5
Ilsup AHN. Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt. 탈경계인문학Trans-Humanities, 6(1), 5-32. doi: 10.22901/trans.2013.6.1.5
Ilsup AHN. Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt. 탈경계인문학Trans-Humanities. 2013; 6(1) 5-32. doi: 10.22901/trans.2013.6.1.5
Ilsup AHN. Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt. 2013; 6(1), 5-32. Available from: doi:10.22901/trans.2013.6.1.5
Ilsup AHN. "Deconstructing the Economy of Debt: Karl Marx, Jürgen Habermas, and an Ethics of Debt" 탈경계인문학Trans-Humanities 6, no.1 (2013) : 5-32.doi: 10.22901/trans.2013.6.1.5
