Peon in the context of "Debt bondage"

⭐ In the context of debt bondage, a defining characteristic of peonage is that it often results in…

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⭐ Core Definition: Peon

Peonage is any form of wage labor, financial exploitation, coercive economic practice, or policy in which the victim or a laborer (peon) has little control over employment or economic conditions. A Peon (English /ˈpɒn/, from the Spanish peón Spanish pronunciation: [peˈon]) is anyone subject to peonage. Peon and peonage existed both the colonial period and post-colonial period of Latin America, as well as the period after the end of slavery in the United States, when "Black Codes" were passed to retain African-American freedmen as labor through other means.

In Bolivia indigenous populations were subject to the Mit'a system during the rule of the Inca and Spanish empires. Later this was replaced by a peonage known as pongaje that lasted until the mid-20th century. In Chile peonage took the local form of inquilinaje and lasted until the Chilean land reform in the 1960s. In Ecuador a similar practise was that of the huasipungos.

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👉 Peon in the context of 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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