(THIS ARTICLE IS ONLY MACHINE TRANSLATED by Google from Norwegian)
In the book Debt history Noreena Hertz makes a strong settlement with what she calls "the story of certain groups that enrich the masses". The history of state lending policy after World War II is a disgusting story of how the United States and the Soviet Union used lending to acquire obedient chess pieces during the Cold War. It is the story of how private banks, speculators, corrupt dictators, weapons manufacturers and multinational companies have filled the pockets with money that would go to the world's poorest. And that is the story of how the debt burden erodes social structures and forces governments to reduce funding for schools, hospitals and social services. Which in turn leads to a flurry of epidemics, environmental devastation, extremism and ultimately terrorism, Hertz believes.
The world's poorest country has a debt of 458 billion dollars, while 19 of the 27 countries that receive debt relief still use over ten percent of government revenues for repayment. . .
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