Debt is a financial obligation that arises when one party borrows money from another, often with the promise to repay it along with interest over a specified period. In the context of Marxist and Neo-Marxist approaches, debt is seen as a tool that perpetuates economic inequality and dependence, especially in the relationship between developed and developing nations. It reflects power dynamics where creditor nations or institutions impose terms that can exacerbate the vulnerability of indebted countries.
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