574
submitted 9 months ago by j_roby@slrpnk.net to c/memes@slrpnk.net
you are viewing a single comment's thread
view the rest of the comments
[-] poVoq@slrpnk.net 5 points 9 months ago* (last edited 9 months ago)

Only if you treat debt as something absolute that has to be repaid no matter what.

In reality in many cases debt is written off as impossible to claw back and sold off to unscrupulous debt enforcement companies at a fraction of the nominal value. Who in turn also rarely manage to get the money.

We as society could simply decide to forget certain types of debt and basically that is what states do via inflation and which historically many societies have done via debt jubilees.

The book "Debt the first 5000 years" gives good overview on this matter and fiat currencies in general.

this post was submitted on 08 Feb 2024
574 points (86.8% liked)

solarpunk memes

2839 readers
3 users here now

For when you need a laugh!

The definition of a "meme" here is intentionally pretty loose. Images, screenshots, and the like are welcome!

But, keep it lighthearted and/or within our server's ideals.

Posts and comments that are hateful, trolling, inciting, and/or overly negative will be removed at the moderators' discretion.

Please follow all slrpnk.net rules and community guidelines

Have fun!

founded 2 years ago
MODERATORS