Here are 100 books that COVID-19 and Sovereign Debt fans have personally recommended if you like
COVID-19 and Sovereign Debt.
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As a physicist by education and therefore fundamentally interested in how things work, my early career was spent in secure communications before moving into finance, specifically payments. I helped to found one of the leading consultancies in the field and worked globally for organizations ranging from Visa and AMEX to various governments and multiple Central Banks. I wrote, it turned out, one of the key books in the field, Identity Is The New Money (2014), and subsequently, Before Babylon, Beyond Bitcoin (2017), about the history and future of money. The Currency Cold War (2020) was a prescient implication of digital currencies, particularly CBDC.
I see David Greaeber’s book as a landmark in the field. He completely changed my understanding of and views on money’s role in society and its evolution. I had the good fortune to meet David a few times (in fact, I made a podcast with him) and feel like I learned from every conversation.
Until I read David’s book, I had assumed that the Barter theory of money and the double coincidence of wants was the natural and unchallenged explanation for how money came to be and what roles it performed. David’s and subsequent authors' work has shown that this view is simplistic and outdated.
The groundbreaking international best-seller that turns everything you think about money, debt, and society on its head—from the “brilliant, deeply original political thinker” David Graeber (Rebecca Solnit, author of Men Explain Things to Me)
Before there was money, there was debt. For more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era that we also first encounter a society divided into debtors and creditors—which lives on in full force to this day.
The dragons of Yuro have been hunted to extinction.
On a small, isolated island, in a reclusive forest, lives bandit leader Marani and her brother Jacks. With their outlaw band they rob from the rich to feed themselves, raiding carriages and dodging the occasional vindictive…
My interest in sovereign debt began as a UN economist in the 1980s. We detailed statistics on the stark impact of the crises and watched Latin American presidents plead for help in the General Assembly. Based in New York, I got invited to some meetings of major banks that held problem debt, wouldn’t admit it, but ultimately had to accept losses. African countries in crisis were mainly in debt to official creditors that also did not want to accept losses. Over time, the types of creditors changed and changed again, and debt crises kept reappearing, being fixed, reappearing until today. This is dramatic stuff. How could I not be interested?
Most debts embody a legal contract specifying how and when the borrowed funds will be repaid and any circumstances in which the obligation can be amended.
Non-payment of most loan contracts end up before a judge whose decisions on repayment are guided by a national bankruptcy law. Debts of sovereign states differ.
Insolvent governments negotiate partial or delayed repayment with their various creditors. The starting point is always that the contracts must be honored.
Professor Lienau argues that there are instances in legal theory and historically in practice in which governments did not and should not have had to repay “illegitimate” debts. She calls for international recognition of a legally enforceable concept of “responsible” lending and borrowing.
Imagine how that might make creditors think twice about lending to oppressive regimes?
Conventional wisdom holds that all nations must repay debt. Regardless of the legitimacy of the regime that signs the contract, a country that fails to honor its loan obligations damages its reputation, inviting still greater problems down the road. Yet difficult dilemmas arise from this assumption. Should today's South Africa be responsible for apartheid-era debt? Is it reasonable to tether postwar Iraq with Saddam Hussein's excesses?
Rethinking Sovereign Debt is a probing historical analysis of how sovereign debt continuity--the rule that nations should repay loans even after a major regime change, or expect reputational consequences--became the consensus approach. Odette Lienau…
My interest in sovereign debt began as a UN economist in the 1980s. We detailed statistics on the stark impact of the crises and watched Latin American presidents plead for help in the General Assembly. Based in New York, I got invited to some meetings of major banks that held problem debt, wouldn’t admit it, but ultimately had to accept losses. African countries in crisis were mainly in debt to official creditors that also did not want to accept losses. Over time, the types of creditors changed and changed again, and debt crises kept reappearing, being fixed, reappearing until today. This is dramatic stuff. How could I not be interested?
When people talk about human rights and sovereign debt, it is usually when the government cannot pay its obligations and squeezes its citizens in the effort.
Who will speak up to protect those people? Thirty authors (including your correspondent) aim to do just that.
While one essay claims that creditor (property) rights trump human rights in international law, most of the authors discuss how to bring human rights into the legal landscape governing different types of foreign loans or investment, or how to protect the rights to food, health, education and more when the International Monetary Fund and creditors demand austerity.
Other essays propose international legal reforms (including arbitral, soft law, and “anti-vulture” litigation). Scholars, activists, or just the curious will want to consult this important and thoroughly accessible volume.
Sovereign debt is necessary for the functioning of many modern states, yet its impact on human rights is underexplored in academic literature. This volume provides the reader with a step-by-step analysis of the debt phenomenon and how it affects human rights. Beginning by setting out the historical, political and economic context of sovereign debt, the book goes on to address the human rights dimension of the policies and activities of the three types of sovereign lenders: international financial institutions (IFIs), sovereigns and private lenders.
Bantekas and Lumina, along with a team of global experts, establish the link between debt and…
When Annie Thornton, midwife and apprentice witch, falls through time to a 15th-century Yorkshire village with her telepathic cat, Rosamund, she befriends Will and Jack, two soldiers returning from the French Wars. Mistress Meg, Annie’s ancestral aunt living in the 15th century, is…
My interest in sovereign debt began as a UN economist in the 1980s. We detailed statistics on the stark impact of the crises and watched Latin American presidents plead for help in the General Assembly. Based in New York, I got invited to some meetings of major banks that held problem debt, wouldn’t admit it, but ultimately had to accept losses. African countries in crisis were mainly in debt to official creditors that also did not want to accept losses. Over time, the types of creditors changed and changed again, and debt crises kept reappearing, being fixed, reappearing until today. This is dramatic stuff. How could I not be interested?
Government borrowing is the golden goose that makes possible investment in public infrastructure and continuing expenditures despite temporary shortfalls in tax revenue.
But when not managed well or when rocked by unforeseen catastrophes, sovereign debt can become an impossible burden.
Because the International Monetary Fund is mandated to worry about international financial stability, it is the central institution for international oversight of sovereign debt.
In this volume, the IMF brought together 38 economic and legal experts to explain to a broad audience why governments borrow, how to borrow sustainably, and how to emerge from default.
It is not a training manual but is comprehensive and clearly written so that even ministers of finance and legislators should understand it and civil society should draw on it in campaigns against debt crises.
The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign…
I’ve felt like a fish out of water for most of my life. My mom’s English and my dad’s from Pennsylvania, so growing up it was always difficult to figure out who I was, where was “home.” So I always felt uneasy and self-conscious about not fitting in, wherever I happened to be. I always felt vaguely homesick for somewhere else. Reading was one way I could escape, travel was another, more literal way. Which is how I ended up in South Africa, where I eventually got my master's in journalism/international politics. (And my adventures there, of course, led to my book.)
I love this one because of the premise: Theroux wants to go up the west coast of Africa, with the caveat that he will go via overland methods only – no planes.
The thinking is that having to traverse the land (or water) itself, however circuitous, tedious, or even dangerous the journey may be, gives us a much greater appreciation for the places we visit. It gives our experiences texture and forces us to be in the present.
I think this is a critical message for us in the modern world. We have this idea that convenience and comfort and speed are necessarily aspirational. But if everything’s streamlined, we end up taking things for granted and essentially just ghosting through life.
Following the success of the acclaimed Ghost Train to the Eastern Star and The Great Railway Bazaar, The Last Train to Zona Verde is an ode to the last African journey of the world's most celebrated travel writer, Paul Theroux.
'Happy again, back in the kingdom of light,' writes Paul Theroux as he sets out on a new journey though the continent he knows and loves best.
Having travelled down the right-hand side of Africa in Dark Star Safari, he sets out this time from Cape Town, heading northwards in a new direction, up the left-hand side, through South Africa…
I became an anthropologist by accident. I never liked school, but I loved to travel, and I got a PhD so that I could rail against development and the perils of cross-cultural misunderstanding in print. Naively, I thought maybe someone would listen. Luckily for me, I discovered I also liked teaching. I first taught at UCLA and then at the Naval Postgraduate School, where I had mostly mid-career U.S. and international special operations officers in class. More serendipity: my two decades at the Naval Postgraduate School bracketed the Global War on Terror, which unfortunately proved to be a witch’s brew of cross-cultural misunderstanding.
Yes, this is the same Graham Hancock who now writes contrarian archeological tomes. I conducted some of my PhD fieldwork in the same area of Somalia that he visited as a reporter, and I was there not long after he was in the 1980s.
This was the first book I came across that explained why almost every development project I’d encountered when traveling around Africa seemed to be such a waste, or worse. Next to no one at the time was reporting on the corruption generated by ‘development’ or the extent to which aid was an industry. Hancock nailed it.
Each year some sixty billion dollars are spent on foreign aid throughout the world. Whether in donations to charities such as Save the Children, Oxfam, CARE, UNICEF, or the Red Cross, in the form of enormous loans from the World Bank, or as direct payments from one government to another, the money is earmarked for the needy, for relief in natural disasters—floods or famines, earthquakes, or droughts—and for assistance in the development of nations.
The magnitude of generosity from the world’s wealthy nations suggests the possibility of easing, if not eliminating, hunger, misery, and poverty; in truth, however, only a…
Chasing Light is a lyrical meditation on grief, memory, and the fragile beauty of everyday life. At its core, it is a story of resilience, forgiveness, and the transformational power of human connection. It sheds light on the overlooked realities of homelessness and addiction, while emphasizing the importance of compassion…
I became deeply interested in democracy and authoritarianism at an early age because of my experiences living under military dictatorships in Argentina in 1971-72 and in Brazil from 1980- 82, and also my experience as an undergraduate living in a democracy that failed in profound ways (Argentina, 1975). I saw first-hand that authoritarianism can affect daily life in hugely negative ways but also that democracy can fail in dismal ways. Reading and producing scholarship about democracy and authoritarianism, and teaching these subjects, became central to my immensely satisfying life’s work.
What I most admire aboutAutocracy and Redistributionis that it brings the best of contemporary political science to bear on questions of deep scholarly and real-world importance: what explains redistributive land reform? Albertus argues that redistributive land reform is much more likely when 1) top-level state leaders and large landowners have diverging interests and2) institutional barriers to achieving large-scale reform are lower. Albertus shows that redistributive land reform is more likely under dictatorship than democracy.
When and why do countries redistribute land to the landless? What political purposes does land reform serve, and what place does it have in today's world? A long-standing literature dating back to Aristotle and echoed in important recent works holds that redistribution should be both higher and more targeted at the poor under democracy. Yet comprehensive historical data to test this claim has been lacking. This book shows that land redistribution - the most consequential form of redistribution in the developing world - occurs more often under dictatorship than democracy. It offers a novel theory of land reform and develops…
I became an academic because I believe knowledge should serve the world. I'm driven by a commitment to responsibility, realism, and social good, even when it's uncomfortable. This list reflects my frustration with how often Western governments act confidently but without the right philosophies, systems, and knowledge in place. They lack imagination, organisation, and the ability to deal with crises, which populist movements are now exploiting. I've spent years researching failed interventions because I believe we owe it to others to do better. These books helped me understand the world more clearly, but also reminded me of our limitations and how hard it is to grasp the contexts we shape.
This book helped me see how much damage is done when treating the world as simple.
Escobar never mentions complexity theory, but that's precisely what animates his critique—a sense that development thinking flattens difference, reduces context, and imposes order where none exists. I'd long been uneasy with how the West 'solves' problems it helped create. This book gave me the conceptual tools to see why: it exposed development as a discourse that makes the world legible in Western terms, only to intervene on that basis.
What I love about this book is its refusal to accept those terms. It shows how we get the world wrong by insisting it should resemble us in the West, and why the costs of that are always borne elsewhere.
How did the industrialized nations of North America and Europe come to be seen as the appropriate models for post-World War II societies in Asia, Africa, and Latin America? How did the postwar discourse on development actually create the so-called Third World? And what will happen when development ideology collapses? To answer these questions, Arturo Escobar shows how development policies became mechanisms of control that were just as pervasive and effective as their colonial counterparts. The development apparatus generated categories powerful enough to shape the thinking even of its occasional critics while poverty and hunger became widespread. "Development" was not…
In 6th grade I did a report about the destruction of the Amazon rainforest, which manifested in a career spanning more than 20 years where I’ve worked for NGOs, the State Department, and the United States Agency for International Development to help make the world a better place. I’ve lived in Guatemala, Tajikistan, Armenia, and Jordan, and travelled throughout Sub-Saharan Africa working on conflict prevention, democracy, governance, and human rights. I’m a firm believer that, no matter your profession, everyone can help make the world a better place – and that’s why I wrote my book and why I read the books on my list – to help make this a reality.
This book is like the other side of the coin to Sex and World Peace.
In that book, the authors articulate the connection between gender inequality and global suffering through statistics, whereas Half the Sky describes it in individual stories. It is moving to hear about these women’s suffering, but it is also uplifting to hear how they have overcome.
This book is an excellent resource for understanding how gender equality leads to increasing economic growth while reducing global poverty and inequality. It is an important tool in any ordinary hero’s toolkit.
#1 NATIONAL BESTSELLER • A passionate call to arms against our era’s most pervasive human rights violation—the oppression of women and girls in the developing world. From the bestselling authors of Tightrope,two of our most fiercely moral voices
With Pulitzer Prize winners Nicholas D. Kristof and Sheryl WuDunn as our guides, we undertake an odyssey through Africa and Asia to meet the extraordinary women struggling there, among them a Cambodian teenager sold into sex slavery and an Ethiopian woman who suffered devastating injuries in childbirth. Drawing on the breadth of their combined reporting experience, Kristof and WuDunn depict our world…
Portrait of an Artist as a Young Woman
by
Alexis Krasilovsky,
Kate from Jules et Jim meets I Love Dick.
A young woman filmmaker’s journey of self-discovery, set against a backdrop of the sexual liberation movement of the 1970s and 1980s. In Portrait of an Artist as a Young Woman, we follow Ana Fried as she faces the ultimate…
The essential feature of democratic capitalism is creative destruction–put simply, constant innovation in the products and services we produce and how we produce them. My book gives a history of electricity and demonstrates the wide-angle lens we must use to fully understand this sort of innovation. The books I recommend here are among the absolute best in this regard. Importantly, in Cold War II, China is challenging America with state capitalism and creative destruction is at the heart of the battle. I have a Ph.D. in Economics and founded a consulting company that assessed new technologies in the energy sector for over 30 years.
I love this book because of the compelling answer it gives to one of the most fundamental questions: why are some nations rich and others poor? The answer is that it depends on the political and economic institutions in place, with wealth accruing to nations with “inclusive institutions.” Put simply, nations with intellectual and economic freedom are richer.
Why does freedom matter? Because freedom opens the stage to Schumpeter’s creative destruction! The authors prove this, remarkably, through examples from around the globe, and they even use examples thousands of years apart in history. This is a must read to understand the way in which creative destruction drives prosperity both today and historically.
Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012.
Why are some nations more prosperous than others? Why Nations Fail sets out to answer this question, with a compelling and elegantly argued new theory: that it is not down to climate, geography or culture, but because of institutions. Drawing on an extraordinary range of contemporary and historical examples, from ancient Rome through the Tudors to modern-day China, leading academics Daron Acemoglu and James A. Robinson show that to invest and prosper, people need to know that if they work hard, they can make money…
