In this book, Ann Pettifor examines the issues of debt affecting the first world or OECD countries. She traces the history and roots of the current international debt crisis, stemming from economic liberalization and the restructuring of the international financial architecture in the early 1970s. The book explores the implications of high international indebtedness for governments, corporations, households, and individuals. An important and unique contribution is Pettifor's discussion of the justice and morality of debt.