This article argues that the debt problem can be attributed to the failure on the part of those who operated the huge market of recycled petro-dollars in the late 70s and early 80s. The author then discusses how reinforcement of a decentralized decision-making system depends on three factors; transparency, market entry, and confining state regulation.
Karl M. Meessen,
Back to the Market: The Debt Problem in Legal Perspective,
12 Fordham Int'l L.J. 1
Available at: http://ir.lawnet.fordham.edu/ilj/vol12/iss1/1