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altogether a role for debt and assumptions of fixed yield for such financial capital instruments. These theories usually emphasize a role for local currency, especially in keeping a service economy functioning normally even during national or global depression.

In neoclassical economics, nation-states are presumed to control and administer natural capital and human capital, and to grant credit according to a money supply system that reflects anticipated yield of these in financial capital under globalization.

Creditary economics challenges these assumptions, especially that global market values reflect local value of lifeThe value of life is an economic or moral value assigned to life in general, or to specific living organisms. In social and political sciences, it is the marginal cost of death prevention in a certain class of circumstances. As such, it is a statistical t or global value of EarthIn economics, value of Earth is the ultimate in ecosystem valuation, and important to value of life calculations. It begins with the simple problem that if the Earth ceases to support life, and human life does not continue elsewhere, all economic activity.

Although the name emerged relatively recently and is associated to a degree with Henry Liu and others who refer to the G8The Group of Eight G8 is the coalition of eight of the world's leading industrialized nations: the United Kingdom, France, Germany ( West Germany to 1991), Italy, Japan, and the United States, (the G6, 1975), Canada (the G7, 1976), and Russia (first known as "gang8", many predecessor theories and movements actually share these assumptions, while disagreeing on a great many elements of political economy:

• Islamic economicsIslamic economics is economics in the political context of Islam. Because the Qur'an spoke against usury in the context of early Muslim society, it generally entails trying to remove or redefine interest rates from financial institutions. In doing so, Isl which permits only joint ventureA joint venture is a business relationship between two or more parties to undertake economic activity together. All parties agree to share in the profits and losses of the enterprise. The venture is for one specific project only, rather than for a continu investmentInvestment is a term with several closely related meanings in finance and economics. It refers to the accumulation of some kind of asset in hopes of getting a future return from it. In theoretical economics, investment means the purchase (and thus the pros
• Ecological economics and its successor human development theory
• Feminist economics and the more general Green economics which put a high premium both on nature's services to humanity and mother's services to children, neither of which has status in debt economics
• Global Resource Bank advocates who see the Earth as a commons

An important point of consensus among these is that debt reflects power relations that are incompatible with creativity, conservation of either energy or materials , and the integrity of natural capital, social capital and individual capital.

The term post-autistic economics is sometimes used by advocates of deeper

Defenders of debt relations often argue that such measures as bankruptcy, debt relief, debt forgiveness , bailout s and deflation of major currencies serve to relieve the problems associated with most debt relations - and that these can continue to be managed on a case-by-case basis. Detractors tend to respond that these are " band-aid measures " and that the continuing race to the bottom in environment, labour and social welfare services is due in the main to debt relations.

Furthermore, begging to bankers in foreign nations for " forgiveness" is seen by most nationalists as humiliating, particularly if odious debt incurred by some former dictator is involved. Many see this processing of granting credit and forgiving debt as a form of imperialism and racism, which keeps local economies in service to global militarism.