Why We Need Debtors’ Unions

afloat in an economy where they are forced to debt-finance basic social goods such as housing, education, health care, and transportation. Indeed, under these circumstances, increased wages might simply translate into more efficient repayment to the creditor class. In response to the financialization of our daily needs, borrowers need a new kind of bargaining power, rooted in collective organization and action. The time is ripe for debtors’ unions to step into this gap that the labor movement (even the most innovative alt-labor initiatives) cannot fill on its own.