A 1600s Spanish village faced debt crises like modern debtor nations

Evidence

Historically, capturing and fixing dependents through the mechanism of debt has always been a central aspect of both the production of people and the constitution of the political bond. Such bonds were crucial in determining the value of persons and gauging their value and utility. When their value and utility were not proven, they could be disposed of as slaves, pawns, or clients. — Achille Mbembe, Necropolitics, 133 (#complicates, via linked claim)

Categorization

• XREF: connects to: Nineteenth-century European imperialism often worked through debt rather than direct rule; Rising interest rates and falling commodity prices triggered the franc zone debt crisis — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 205; Colonies took on debt at punitive interest rates and faced enforced compensation — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 21 (+1 more)

Broader Connections

• Debt has historically served to capture and fix people within political bonds #complicates (0.72) — Achille Mbembe, Necropolitics, 133