Debt and Sacrifice: The Role of Scapegoats in the Economic Crises

Abstract

Despite the process of secularization and modernization, in contemporary societies, the role of sacrifice is still relevant. One of the spaces where sacrifice actually performs a critical role is the realm of modern economy, particularly in the event of a financial crisis. Such crises represent situations defined by an outrageous symbolic violence in which social and economic relations experience drastic transformations, and their victims end up suffering personal bankruptcy, indebtedness, lower standards of living or poverty. Crises show the flagrant domination present in social relations: this is proven in the way crises evolve, when more and more social groups marred by a growing vulnerability are sacrificed to appease financial markets. Inspired by the theoretical framework of the French anthropologist René Girard, our intention is to explore how the hegemonic narrative about the crisis has been developed, highlighting its sacrificial aspects.