When Is Debt Slavery

Shackled or Sovereign? Rethinking Debt in the Age of Consent

Andrew Crowley, Rock The Vote NZ Party Leader

In a world increasingly defined by financial contracts, the question arises: Is debt a form of slavery? The answer, like most things worth debating, is conditional. Debt can enslave—but it can also empower. The distinction lies not in the numbers, but in the nature of the agreement: voluntariness, transparency, and consequence.

Rock The Vote NZ, a movement rooted in individual sovereignty, challenges New Zealanders to rethink the systems that govern their lives—including the economic ones. If civic freedom means choosing your leaders, then economic freedom must include choosing your obligations. When debt is imposed, concealed, or enforced through coercion, it ceases to be a tool and becomes a trap.

When Debt Is Slavery

Debt becomes a form of bondage when it strips away agency:

• Involuntary debt: Inherited obligations, fraudulent contracts, or loans taken under duress force individuals into labour they never consented to.

• Predatory terms: Payday loans with 300% interest exploit desperation, trapping borrowers in cycles they can’t escape.

• State enforcement: Wage garnishment and asset seizure turn the state into a collector, claiming future labour as collateral.

• Debt bondage: In parts of South Asia, brick kiln workers receive “advances” they can never repay—passed down to their children. This is slavery by another name.

These scenarios violate the principle of sovereignty. The individual becomes a commodity—valued only for their ability to repay.

When Debt Is Not Slavery

Debt, when entered freely and transparently, can be a strategic tool:

• Voluntary and informed: You chose the loan, understood the terms, and accepted the risk.

• Fixed repayment: A clear end point makes the obligation temporary, not existential.

• Collateral-based: Mortgages risk the asset, not the person. Default means losing the house—not your freedom.

• Productive leverage: A surgeon with $200k in student loans earning $400k/year isn’t shackled—they’re investing in their future.

In these cases, debt reflects autonomy. The borrower remains sovereign, using financial tools to build—not survive.

Ah Yes - But What About Government Debt?

Government debt can enslave citizens when repayment mechanisms erode individual sovereignty—through taxation, austerity, and intergenerational burden.

The Mechanisms of Enslavement

When a government borrows, it commits future public revenue—often sourced from taxes, fees, and reduced services—to repay creditors. This can lead to:

• Higher taxes on citizens: To service debt, governments may raise income, consumption, or property taxes, reducing disposable income and economic freedom.

• Cuts to public services: Debt repayment often triggers austerity—slashing healthcare, education, and welfare—disproportionately affecting vulnerable populations.

• Intergenerational burden: Future generations inherit obligations they never consented to, violating the principle of individual sovereignty.

• Reduced policy autonomy: Heavily indebted governments may be pressured by international lenders (e.g., IMF, World Bank) to adopt policies that prioritize repayment over public welfare.

Debt as Structural Constraint

Government debt can function like a structural shackle:

• Enforced labour via taxation: Citizens must work to pay taxes that fund interest payments—echoing the logic of debt bondage.

• Loss of democratic control: Fiscal decisions may be dictated by creditors, not voters. Sovereignty shifts from the people to financial institutions.

• Economic fragility: High debt levels can trigger inflation, currency devaluation, or financial crises—further limiting individual and national agency.

Sovereignty vs Servitude

Rock The Vote NZ’s emphasis on individual sovereignty invites a deeper critique: if citizens are not consulted on borrowing decisions, and if repayment undermines their autonomy, then government debt becomes a form of collective coercion.

Bottom Line

Debt is slavery when it’s involuntary, inescapable, or enforced by violence. Debt is freedom when it’s a chosen tool with a clear exit.

Rock The Vote NZ urges citizens to scrutinize not just their ballots, but their contracts. Sovereignty isn’t just political—it’s economic. And in both realms (in public and private / individual debt and national debt), consent is everything.

• Debt is enslavement when it’s imposed, opaque, and enforced through reduced freedom.

• Debt is governance when it’s transparent, consensual, and aligned with public benefit.