Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change—yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country’s capital Kuala Lumpur “the New York of the Muslim world”—the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action. Building on scholarship that reveals the impact of financial devices on human activity, he illustrates how Islamic finance is deployed to fashion subjects who are at once more pious Muslims and more ambitious entrepreneurs. In so doing, Rudnyckyj shows how experts seek to create a new “geoeconomics”—a global Islamic alternative to the conventional financial network centered on New York, London, and Tokyo. A groundbreaking analysis of a timely subject, Beyond Debt tells the captivating story of efforts to re-center international finance in an emergent Islamic global city and, ultimately, to challenge the very foundations of conventional finance.

Rook Collins is reliving the most horrific moments of his decade of combat service overseas when he is awakened by the sounds of automatic gunfire outside his Los Angeles apartment. Before he can even react to the chaos around him, though, he discovers a suicide message from his brother and races off to find him. Agents Delphi and Ferrous are in the business of explaining the unexplainable. The recent discovery in Mexico of a mysterious green skeleton, identified as belonging to one of their own, puts them on a search for answers. The first destination on their list, the now abandoned psychiatric prison and last known address of the former agent.

Capitalism only celebrates success, and it can be difficult to know what to do when confronted with failure. This book explores what happens when people go broke and what the experience of bankruptcy and insolvency is like from a qualitative perspective. It shows, contrary to the expectations of policy makers, that debt relief is not transactional. Rather, it is moral, theological, social and cultural. The book demonstrates that debt encompasses fairness, trust, faith, sin, guilt, revelation and confession and that taking these factors seriously is vital to successfully navigating the world of the over-indebted.

This paper proposes anchoring medium- to long-term fiscal policy in a Public Sector Net Worth (PSNW) target. Such a target widens the scope of fiscal policy to include public sector assets, in addition to liabilities—the focus of debt-based rules. A PSNW target is directly relevant to ongoing policy debates on green fiscal rules and more generally, the reform of fiscal frameworks (such as the Euro Area’s) to allow for public investment in a high debt environment. Modeling a small open economy with public investment and endogenous growth, we show that, compared to debt-based anchors, a PSNW anchor is more conducive to public investment and economic growth, while providing for sensible policy reactions to changes in long-term interest rates. The net worth anchor also precludes unsustainable debt dynamics. Simulated transition dynamics show that replacing a debt anchor with a net worth anchor does not necessarily lead to higher debt-to-GDP ratios. In addition to the merits of a net worth anchor, the paper also discusses some operational challenges.

As the World Bank famously put it back in 1989, 'underlying the litany of Africa's development problems is a crisis of governance.' This is a collection of authoritative essays bringing together prominent Africanists in political science and public administration to look at the role of governance in African development. The goal of the book is to move beyond the status quo debates about 'structural adjustment' and to look at all the public and civic institutions which are likely to play a critical role if Africa is to overcome its economic crisis.

How can we create a model of politics that reaches beyond the nation-state, and beyond settler-colonialism, authoritarianism, and neoliberalism? In Beyond the Pink Tide, Macarena Gómez-Barris explores the alternatives of recent sonic, artistic, activist, visual, and embodied cultural production. By focusing on radical spaces of potential, including queer, youth, trans-feminist, Indigenous, and anticapitalist movements and artistic praxis, Gómez-Barris offers a timely call for a decolonial, transnational American Studies. She reveals the broad possibilities that emerge by refusing national borders in the Americas and by seeing and thinking beyond the frame of state-centered politics. Concrete social justice and transformation begin at the level of artistic, affective, and submerged political imaginaries—in Latin America and the United States, across South-South solidarities, and beyond.

This book explores the interweaving of several of Derrida’s characteristic concerns with themes that Paul explores in Romans. It argues that the central concern of Romans is with the question of justice, a justice that must be thought outside of law on the basis of grace or gift. The many perplexities that arise from thus trying to think justice outside of law are clarified by reading Derrida on such themes as justice and law, gift and exchange, duty and debt, hospitality, cosmopolitanism, and pardon. This interweaving of Paul and Derrida shows that Paul may be read as a thinker who wrestles with real problems that are of concern to anyone who thinks. It also shows that Derrida, far from being the enemy of theological reflection, is himself a necessary companion to the thinking of the biblical theologian. Against the grain of what passes for common wisdom this book argues that both Derrida and Paul are indispensable guides to a new way of thinking about justice.