Professor Gregoire Mallard was recently featured on the Clauses & Controversies, a podcast about international finance, contract clauses and the controversies surrounding these clauses.
Talk of odious debt generally asks whether the populace must repay money borrowed by a corrupt former dictator. The assumption is that the people have overthrown a domestic despot. But what about money borrowed while under colonial rule? Discussions of odious debt generally overlook this scenario. In fact, it’s generally assumed that a newly-independent state cannot disavow these debts. Likewise, the new state commits expropriation and must pay compensation if it takes back property appropriated by a colonial oppressor. Our guest is the brilliant Gregoire Mallard (the Graduate Institute), whose work inspired us to wonder why discussions of odious debt tend to overlook post-colonial obligations. Gregoire’s recent book on this and related matters, Gift Exchange: The Transnational History of a Political Idea.
For more episodes of Clauses & Controversies by Mitu Gulati & Mark Weidemaier, click here.