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Deutsches Institut für Japanstudien
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11. March 2021

New DIJ Miscellanea Double Debt Disaster

Double Debt Disaster by Julius Weitzdörfer and S.J. Beard is latest volume published in our DIJ Miscellanea series. It offers a detailed examination of obstacles to recovery from catastrophes caused by the concurrence of pre-disaster obligations with post-disaster capital needs and the destruction of collateral assets. The convergence of growing risk from natural hazards, coupled with ever-higher levels of public and private indebtedness will soon propel the quest for micro-and macro-economic policy solutions to global attention. No case is more instructive for understanding these problems than the Great East Japan Earthquake. In its wake came a second disaster, as former home-owners and businesspeople found themselves in need of loans to rebuild and invest, while being unable to pay off pre-disaster debts. Treating issues of property-, insurance-, debtor-creditor-, social welfare-, charity-, financial-, and insolvency law, this volume examines Japan’s double debt disaster from the perspective of social justice and disaster recovery. It proposes that policymakers take sustainable steps to avoid socioeconomic disasters. More details and link to download the PDF here.