RE: Who will swallow the Corona virus debt? The rich or the poor?
November 24, 2020 at 12:02 pm
(This post was last modified: November 24, 2020 at 12:09 pm by The Grand Nudger.)
That's the rub. Individuals, corporations and government all have a very different situation and structure and opportunities for how we can manipulate debt. This real and information asymmetry is exploited to great effect by politicians.
Being good at manipulating debt can take an individual person pretty far - but you hit a wall with respect to what options you have available at the limits of your allotted zones. If people could manipulate debt the way that corporations or government can manipulate debt (as in, could legally do so) then I'd hesitate to say that all problems would be solved...but you'd have to scrape the barrel pretty hard to come up with them.
What we see now is a corporate capture of the governance of debt, and that, not debt or corporations (or even governance), is the problem.
(and to answer the opq, there is no who will..the poor have already paid - all the way down to having funded the research that will produce a product that they will..then, pay for again.)
Being good at manipulating debt can take an individual person pretty far - but you hit a wall with respect to what options you have available at the limits of your allotted zones. If people could manipulate debt the way that corporations or government can manipulate debt (as in, could legally do so) then I'd hesitate to say that all problems would be solved...but you'd have to scrape the barrel pretty hard to come up with them.
What we see now is a corporate capture of the governance of debt, and that, not debt or corporations (or even governance), is the problem.
(and to answer the opq, there is no who will..the poor have already paid - all the way down to having funded the research that will produce a product that they will..then, pay for again.)
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