Can you Describe the system of peonage in Latin America?
Peonage are free workers were little better the slaves. since wages were low and prices were high, workers were into debt. their debt accumulated and passed from one generation to the next. ChaCha!
Answered by Jenny A. -
About Debt
Debt is an obligation to pay someone back, either in money or other goods. Before the recession of 2008 and the financial meltdown, many people and corporations took on so much debt that their houses were foreclosed and their companies failed or had to be sustained by the government until they got back on their feet. (An example is General Motors.)
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