Debt Community Network

The scale and scope of household debt is a ‘strategic silence’ in contemporary Britain– every policy-maker, politician, and economist – knows that household debt is a major problem but chooses to do nothing about it. The politics of debt, or indebtedness, is about understanding how debt changes the dynamics by which individuals, households and communities shape the economy. Households do not simply respond to economic stimulus, like low interest rates; they create the economy every day through their actions, reactions and inactions. This is relevant because it is far too easy to depict indebtedness as a ‘personal’ problem; this completely ignores that it is a widely shared problem across Britain and offers a clear warning sign of impending economic disaster — a household financial crisis.