When should binding debt contracts not be repaid? This article argues that whenever the repayment of sovereign debt threatens the human rights of the citizenry, this provides a weighty normative reason to prioritize the fulfilment of the latter over the former. Since there are specific, non-coincidental reasons to fear that a high indebtedness of states may result in the undermining of the socio-economic and the collective human rights of a state’s citizenry, the more specific thesis defended in this article is (...) the following: whenever debt repayment undermines the socio-economic and collective human rights of the state´s citizenry, states have a normatively weighty reason to prioritize the fulfilment of the citizen’s human rights over meeting their contractual debt payment obligations vis-à-vis their creditors. (shrink)

Matias Risse and Gabriel Wollner’s On Trade Justice largely neglects the role of money and central banking in ‘trade fairness.’ This article rehearses why J. M. Keynes thought money and global central banking matters for national capacity, and suggests that this helps answer Risse and Wollner’s chief objection to Aaron James’s Fairness in Practice.

Politicians around the globe wrangle about how to deal with trade imbalances. In the Eurozone, members running a trade deficit accuse members running a surplus of forcing them into deficit. Yet pol...