by Summary:
Unlocking Economic Growth with Debt Jubilee
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Unlocking Economic Growth with Debt Jubilee
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
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| Unlocking Economic Growth with Debt Jubilee |
What do you think about this? Responding to the best comments.
I'm all for it, and think you're absolutely right – it would get money moving through the real economy again – & we certainly need that!
However, sadly I think those who largely benefit from "unearned income" are those who also believe capitalism (in its present state) works quite well for them. Unfortunately, they are also the ones who have most of the power, & use it to ensure the status quo remains just that.
I think it's also debatable whether or not governments actually want their citizenry to be free of personal debt. It's been proposed that one of the many reasons the Thatcher government brought in "Right to Buy" in the 1980's was to "smash the propensity for blue collar workers living in council accommodation to engage in strike activity. If each one had a mortgage to service, instead of rent to pay to a social housing provider, it was theorised they'd be far less likely to jeopardise their own income (and by extension, risk repossession of their home), over joining forces to collectively bargain".
In addition to this, I might also be so bold as to suggest there are certain advantages for a government if its population is dissatisfied, in keeping it in a fragile financial position. It means as dissatisfied as they may be with their government & their situation, they're also so preoccupied trying to make ends meet, that the majority simply don't have the time, energy or inclination to uprise & revolt, or even to really organise on such a scale as to be any sort of credible threat to the status quo.
After all, if people aren't spending all of their time "robbing Peter to pay Paul", they suddenly have more time to consider just what a problem both "Peter and Paul" have been, and how actually, now they've got a bit more time & money, they'd do well to get together with others who're equally dissatisfied in order to do something to get rid of that toxic pair once & for all!
That's a good point.