• **Alt text:** A wide view down a cobblestone street in Edinburgh's historic city center, lined with large stone buildings. A Gothic church with a tall, ornate spire stands prominently on the right side of the street. Crowds of pedestrians gather along the sidewalks and at intersections, while a few vehicles travel along the road. The scene is photographed from the upper deck of a red sightseeing bus, with part of the bus and a passenger visible in the foreground. Dark, dramatic clouds hang overhead, contrasting with patches of lighter sky.

The Politics of Debt and Disease

Even before COVID-19, unprecedented levels of public and private borrowing placed debt at the centre of academic and public debates. If access to credit at this stage of the pandemic is crucial for keeping alive economies across the globe, the health crisis has further exacerbated our reliance on borrowing. Massive efforts are expected of states and central banks to support not only individual financial institutions but the financial system as a whole.