Debt bondage in the context of "Unfree labor"

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⭐ Core Definition: Debt bondage

Debt bondage, also known as debt slavery, bonded labour, or peonage, is the pledge of a person's services as security for the repayment for a debt or other obligation. Where the terms of the repayment are not clearly or reasonably stated, or where the debt is excessively large, the person who holds the debt has thus some control over the laborer, whose freedom depends on the undefined or excessive debt repayment. The services required to repay the debt may be undefined, and the services' duration may be undefined, thus allowing the person supposedly owed the debt to demand services indefinitely. Debt bondage can be passed on from generation to generation.

In 2021, the International Labour Organization estimated that, of the 27.6 million people currently participating in forced labour, 20.9%, or about 5.8 million, were in debt bondage. Debt bondage has been described by the United Nations as a form of "modern day slavery", and the Supplementary Convention on the Abolition of Slavery seeks to abolish the practice.

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Debt bondage in the context of Serfdom

Serfdom was the status of many peasants under feudalism, specifically relating to manorialism and similar systems. It was a condition of debt bondage and indentured servitude with similarities to and differences from slavery. It developed during late antiquity and the Early Middle Ages in Europe and lasted in some countries until the mid-19th century.

Unlike slaves, serfs could not be bought, sold, or traded individually, though they could, depending on the area, be sold together with land. Actual slaves, such as the kholops in Russia, could, by contrast, be traded like regular slaves, abused with no rights over their own bodies, could not leave the land they were bound to, and marry only with their lord's permission.

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Debt bondage in the context of Unfree labour

Forced labour, or unfree labour, is any work relation, especially in modern or early modern history, in which people are employed against their will with the threat of destitution, detention, or violence, including death or other forms of extreme hardship to either themselves or members of their families.

Unfree labour includes all forms of slavery, penal labour, and the corresponding institutions, such as debt slavery, serfdom, corvée and labour camps.

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Debt bondage in the context of Indentured servitude in British America

Indentured servitude in British America was the prominent system of labor in the British American colonies until it was eventually supplanted by slavery. During its time, the system was so prominent that more than half of all immigrants to British colonies south of New England were white servants, and that nearly half of total white immigration to the Thirteen Colonies came under indenture. By the beginning of the American Revolutionary War in 1775, only 2 to 3 percent of the colonial labor force was composed of indentured servants.

The consensus view among economic historians and economists is that indentured servitude became popular in the Thirteen Colonies in the seventeenth century because of a large demand for labor there, coupled with labor surpluses in Europe and high costs of transatlantic transportation beyond the means of European workers. Between the 1630s and the American Revolution, one-half to two-thirds of white immigrants to the Thirteen Colonies arrived under indentures. Half a million Europeans, mostly young men, also went to the Caribbean under indenture to work on plantations. Fraud and sometimes even force were widely used as methods of recruitment. A debt peonage system similar to indenture was also used in southern New England and Long Island to control and assimilate Native Americans from the 1600s through the American Revolution.

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Debt bondage in the context of Supplementary Convention on the Abolition of Slavery

The Supplementary Convention on the Abolition of Slavery, the full title of which is the Supplementary Convention on the Abolition of Slavery, the Slave Trade, and Institutions and Practices Similar to Slavery, is a 1956 United Nations treaty which builds upon the 1926 Slavery Convention, which is still operative and which proposed to secure the abolition of slavery and of the slave trade, and the Forced Labour Convention of 1930, which banned forced or compulsory labour, by banning debt bondage, serfdom, child marriage, servile marriage, and child servitude.

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Debt bondage in the context of Debt collection

Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of creditors. They collect debts for a fee or percentage of the total amount owed. Historically, debtors could face debt slavery, debtor's prison, or coercive collection methods. In the 21st century in many countries, legislation regulates debt collectors, and limits harassment and practices deemed unfair.

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