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IOU: The Story of the Debt
 
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IOU: The Story of the Debt (Paperback)

by Noreena Hertz (Author)
4.4 out of 5 stars  See all reviews (8 customer reviews)

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Product details

  • Paperback: 304 pages
  • Publisher: HarperPerennial; New edition edition (3 May 2005)
  • Language English
  • ISBN-10: 0007178999
  • ISBN-13: 978-0007178995
  • Product Dimensions: 19.4 x 12.8 x 2.2 cm
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (8 customer reviews)
  • Amazon.co.uk Sales Rank: 161,552 in Books (See Bestsellers in Books)

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Product Description

Review

'A searing critique ... Noreena Hertz is angry - and wants you to get angry too.' Observer 'Cuts through the jargon and acronyms to show that the debt crisis is not just about money but about people, and its solutions are not about charity, but justice.' Bono 'In this brave and provocative book Noreena Hertz weaves together a compelling argument against an unjust international order with a groundbreaking and empowering agenda for change. Something can be done to create a better and safer world for all of us. Everyone should read this book.' Bob Geldof Praise for The Silent Takeover: 'Noreena Hertz's The Silent Takeover is the most compelling description yet of the new world and what it means, and a call to arms to every citizen to reassert an idea of the public realm.' Will Hutton 'Noreena Hertz is one of the world's leading young thinkers.' Observer


Product Description

We are bombarded with images of poverty, terrorism, war and collapsing states. Do we ever question what the root cause of these problems might be? Noreena Hertz, one of the world's leading experts on economic globalization, tackles Third World Debt as a situation that must be resolved if we are ever to see global stability. For every USD1 the West gives to developing countries in aid, developing countries pay the West USD9 in debt service. At the beginning of the new millennium we are witnessing a global debt crisis of unprecedented size. Sub-Saharan Africa owes USD200 billion, Brazil USD223.8 billion, Argentina USD155 billion. Why does this matter? In this shocking, ground-breaking book, Noreena Hertz shows that these numbers matter because they account for millions of people dying of AIDS; for the rainforests being cut down; for poverty, illiteracy, terrorism and war. These numbers matter because they will affect all of our lives if the balance is not redressed. IOU is a story of avarice but also of vulnerability; of power asymmetries and misuse of influence; of corrupt dictators and careless lenders; of Cold War interests and Wall Street pressure; of third world governments who get given it, and third world people who have no access to it. Noreena Hertz, one of the world's leading experts on economic globalisation, argues that this is not an issue of left or right: it is an issue of right versus wrong, of peace versus war. It must be addressed now.
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Customer Reviews

8 Reviews
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Average Customer Review
4.4 out of 5 stars (8 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
7 of 10 people found the following review helpful:
5.0 out of 5 stars Debt Hertz, 10 Oct 2004
By Matt (Dundee United Kingdom) - See all my reviews
This review is from: IOU: The Debt Threat and Why We Must Defuse It (Hardcover)
This is certainly no Moore-esque rant about the dark side of capitalism. Hertz exposes then ruthlessly demolishes the almost criminal system which has allowed so much debt to be accumulated. Her meticulous research and accessible prose make this an informative and understandable book on what is a complex economic subject. In her conclusion she goes the extra mile and, unlike many other commentators, comes off the fence to suggest radical solutions. Buy this book .Read this book. Then make sure everyone you know does likewise.
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6 of 9 people found the following review helpful:
5.0 out of 5 stars I.O.U. by Noreena Hertz, 19 Sep 2004
By J D Brett (London United Kingdom) - See all my reviews
This review is from: IOU: The Debt Threat and Why We Must Defuse It (Hardcover)
This is an incredible book: candid, readable, true.

Noreena Hertz manages to convey the complex subject of Third World Debt with such effortless elegance that one is left wondering why the world's richest counties cannot see the wood for the trees.

Perhaps the real question though is why debt ever fell out of public consciousness. The book questions this along with the complex politics lurking behind the debt issue. And it makes the issue very, very current.

Whether your politics swing to the right or the left, I highly recommend this work. It is an accessible and compelling read - a mystery story based on fact, with a solution as brilliant as it is simple.

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3 of 5 people found the following review helpful:
5.0 out of 5 stars You must buy this book, 19 Sep 2004
By A Customer
This review is from: IOU: The Debt Threat and Why We Must Defuse It (Hardcover)
I thought a book about third world debt might be boring. I.O.U. is in no way that. At times really funny - Noreena Hertz's descriptions of ADD suffering traders with twitches and tics had me in stitches. As did as her Bono-Schwarzenegger-Kennedy-Reverand Billy Graham story. Often moving , the stories of the casualties of the debt crisis really touch. And often shocking, her story of what the World Bank said to the new Rwandan government after the Rwandan genocide, was extremely disturbing. Noreena Hertz's beautifully written book raises the issues around third world debt in an easily accessible way. She also, unlike many others critical of the current system, lays out a groundbreaking and actionable agenda for change. I.O.U. is a really important book of our times, that everyone should read.
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Most Recent Customer Reviews

4.0 out of 5 stars Deftly navigates the complexities of developing world debt
Developing world debt was high on the international agenda around the millenium, with the Jubilee Campaign enjoying some remarkable success. Much was promised. Read more
Published 15 months ago by Jeremy Williams

1.0 out of 5 stars Badly written, derivative, Bono-loving crud
...well it's actually not THAT bad but someone had to balance the other eulogising comments from the hip young globalization-bashers (just like our Noreeena). Read more
Published on 7 Mar 2007 by milfleurs

5.0 out of 5 stars enlightening!
This really is a must read for anyone who wants to be informed about global issues. Noreena Hertz does a great job of making an extremely complex subject understandable. Read more
Published on 22 Jun 2006 by H. Clark

5.0 out of 5 stars Very sensible propositions
Noreena Hertz's basic principle is that the rights of creditors do not stand above fundamental human rights. Read more
Published on 20 Oct 2005 by Luc REYNAERT

5.0 out of 5 stars Blueprint for change, endorsed by rock stars
Few exhortations to action manage to blend a detailed objective analysis of the facts; a practical, well thought-out agenda for change; and the true passion that comes of moral... Read more
Published on 26 Oct 2004 by Vincent Toolan

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