Debtonation

What is 'Debtonation'

Debtonation is a financial blog written by Ann Pettifor. Pettifor describes herself as a “political economist, author and public speaker.” She is based in London.

Pettifor is known primarily for her work on sovereign debt, particularly in the international realm. She famously led the campaign Jubilee 2000, part of an international movement to cancel large amounts of debt. According to Pettifor, her campaign led to the cancellation of approximately $100 billion worth of debt owed by the world’s poorest nations.

BREAKING DOWN 'Debtonation'

Debtonation features regular short writings by Pettifor on global and British economics, as well as videos of her speaking and links to her other work. Pettifor is credited with having predicted the eventual financial crisis of 2008-2009 back in 2003.

In 2018, Pettifor’s blog covered included a post questioning whether the banking industry has been responsible for the rise of populism in Europe and the US, a question she also tackled through a podcast in 2017. In 2018, she also used her blog to explain why in her view, the Bank of England should not raise the bank rate. Pettifor also contributes to The Guardian.

Pettifor’s blog also links to Policy Research in Macroeconomics (PRIME), of which she is the director. PRIME promotes John Maynard Keynes’ monetary theory and policies. PRIME is a network of macroeconomists, political economists and other professionals that seeks to demystify economics for the layperson while engaging a diverse audience an range of thinkers.

Ann Pettifor’s Accomplishments

Pettifor is a widely published author. Her most recent book is The Production of Money, published in 2017. The book outlines for the layperson how money and credit work in modern economies and the problems that led to the financial crisis. It then goes on to recommend changes to macroeconomic systems to heal the global financial sector of these dysfunctions.

Her other books include The Real World Economic Outlook, which she edited and The Coming First World Debt Crisis.

Pettifor is a fellow of the New Economics Foundation, a think tank that focuses on issues of social justice and environmental sustainability through an economic lens. Pettifor also holds a number of posts with other research organizations. These include being chair of the advisory board of  Goldsmith’s College Political Economy Research Centre and holding an honorary fellowship at City University’s Political Economy Research Centre.

In 2015, the British Labour Party named Pettifor as a member of a council of economic advisers.