Ep. 130 Debt as a Lever for Power

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By Carol Jackson, Sanford School of Public Policy, and Duke University. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

There’s been tremendous political wrangling in the US recently about raising the debt ceiling (how much money we allow ourselves to borrow). The U.S. is not the first country in history borrow money and we won’t be the last. In the late imperial period until the early 1920s, Russia needed cash, and they got it from Britain and France. Owing so much money gave Russia a kind of power; if Russia defaulted, it would have been catastrophic for the countries that lent them money.

Guest: Duke professor Jennifer Siegel. Her book is For Peace and Money: French and British Finance in the Service of Tsars and Commissars.

141 episodes