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Author's Response, John H. Jackson
Author's Response, John H. Jackson
Georgetown Law Faculty Publications and Other Works
It is a privilege for me to have received the attention to my latest book of such a trio of expertise and scholarly balanced policy perspectives from three different disciplines : economics, law, and diplomacy. It is also a privilege and honor for me to receive from each of these three sometimes divergent disciplines a general overall recognition of what I sought to accomplish in this book. I congratulate the reviewers. The book has an intricate logical structure but struggles with huge amounts of empirical information, in a purposefully short work. All three authors have recognized these features, and seem …
Odious, Not Debt, Anna Gelpern
Odious, Not Debt, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
This article argues that the doctrine of Odious Debt, which has enjoyed a revival since the U.S. invasion of Iraq in 2003, frames the problem of odious debt in a way that excludes most of the problematic obligations incurred by twentieth-century despots. Advocacy and academic literature traditionally describe the odious debt problem as one of government contracts with private creditors. Most theories of sovereign debt key off the same relationship. But in the latest crop of cases, including Iraq, Liberia, and Nigeria, private creditors represent a small fraction of the old regime's debts. Most of the creditors are other governments …