polity
Copyright © Johnna Montgomerie 2019
The right of Johnna Montgomerie to be identified as Author of this Work has been asserted in accordance with the UK Copyright, Designs and Patents Act 1988.
First published in 2019 by Polity Press
Polity Press
65 Bridge Street
Cambridge CB2 1UR, UK
Polity Press
101 Station Landing
Suite 300
Medford, MA 02155, USA
All rights reserved. Except for the quotation of short passages for the purpose of criticism and review, no part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher.
ISBN-13: 978-1-5095-2543-0
A catalogue record for this book is available from the British Library.
Library of Congress Cataloging-in-Publication Data
Names: Montgomerie, Johnna, author.
Title: Should we abolish household debts? / Johnna Montgomerie.
Description: Medford, MA : Polity, 2018. | Series: The future of capitalism | Includes bibliographical references and index.
Identifiers: LCCN 2018045028 (print) | LCCN 2018046565 (ebook) | ISBN 9781509525430 (Epub) | ISBN 9781509525393 (hardback) | ISBN 9781509525409 (paperback)
Subjects: LCSH: Debt--Social aspects. | Mortgage loans. | Consumer credit. | Debt cancellation. | BISAC: POLITICAL SCIENCE / Public Policy / Economic Policy.
Classification: LCC HG3701 (ebook) | LCC HG3701 .M626 2018 (print) | DDC 332.7/43--dc23
LC record available at https://lccn.loc.gov/2018045028
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For further information on Polity, visit our website: politybooks.com
This book is dedicated to my Dad, John Montgomerie. Thank you for cancelling my student debt, you always inspire me to think big.
My biggest intellectual debts are to Ann Pettifor, Steve Keen and Will Davies, who, each in their own way, informed my thinking for this book. I have benefited greatly from intellectual interactions with Daniela Tepe-Belfrage, Clea Bourne (and our Heretical Finance Reading Group), Chris Harker, and Ben Fine – to name just those who gave me feedback. This book also owes a debt to the many civil society organizations I have learned so much from over the past few years: New Economics Foundation, Centre for Responsible Credit, Jubilee Debt Campaign, Positive Money, Trade Union Congress, Finance Innovation Lab, FairForYou, Debt Resistance UK. However, I save my most sincere thanks and appreciation for those who helped me find the time to write this book while pregnant and after having my third baby: my husband, Sam, who supported me with countless hours of childcare and many takeaway dinners, and my neighbours Megan and Rachel, who mucked in many times when I was in a pinch.