Debt bondage (or bonded labour) is when a person pledges him or herself against a loan. In debt bondage, the services required to repay the debt may be undefined, and the services' duration may be undefined. Debt bondage can be passed on from generation to generation.
In modern times, debt bondage is most prevalent in South Asia.
Read more about Debt Bondage: Legal Definition, Modern Views
Famous quotes containing the words debt and/or bondage:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The ex-Presidential situation has its advantages, but with them are certain drawbacks. The correspondence is large. The meritorious demands on one are large. More independent out than in place, but still something of the bondage of the place that was willingly left. On the whole, however, I find many reasons to be content.”
—Rutherford Birchard Hayes (1822–1893)