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Credit score is a private system where your ability to pay for things is assessed so loans are not given to people that don't pay them back. I don't see how tha

Credit score is a private system where your ability to pay for things is assessed so loans are not given to people that don't pay them back. I don't see how that is anything like a government run "social credit" system. Also, you avoid even having a credit score if you just pay cash for everything.

lmm 8y ago
> Credit score is a private system where your ability to pay for things is assessed so loans are not given to people that don't pay them back. I don't see how that is anything like a government run "social credit" system. I've never understood this American notion that just because a private company is doing something that makes it fine. If you can't get a loan and can't find out why, what difference does it make whether it was the government or a private entity that blocked you? > Also, you avoid even having a credit score if you just pay cash for everything. Sure, but at that point you're unable to participate in much of society, just like someone without a social credit score.
- zip1234 8y ago
  "just because a private company is doing something that makes it fine" I didn't say that was what made it fine. I just said it is very different from a system that is government run and applies to everyone. Paying cash does not mean you're unable to participate in much of society. You can still use online services and do almost any transaction. Also, the outcome of a very bad credit score is that you have to pay cash for everything since nobody trusts that you will pay. The outcome of "social credit" is prison camp.
- Lionsion 8y ago
  > I've never understood this American notion that just because a private company is doing something that makes it fine. If you can't get a loan and can't find out why, what difference does it make whether it was the government or a private entity that blocked you? A lot, actually. It might help you to understand if you realize it's not really about the loan. It's about the political control that such opaque denials can be used to implement. A private company, especially a large public one, has a lot fewer incentives for exerting political control over its customers than an authoritarian government over its people. The private company actually has a lot of incentives for not doing so, since that kind of thing can alienate customers.
  - lmm 8y ago
    A company's interests are superficially different from a government's - they don't care about which party is in power, sure. But they have much the same interests at a deeper level of: keeping existing power structures in place, not letting weirdos mess everything up.
    - Lionsion 8y ago
      > A company's interests are superficially different from a government's - they don't care about which party is in power, sure. But they have much the same interests at a deeper level of: keeping existing power structures in place, not letting weirdos mess everything up. You're reaching too far for an equivalence. Yes they have "deeper," more esoteric interests, but having them limited to those rather than supporting a party-regime is a far better situation. Private company credit scores are better than government social credit scores, even though they're not totally neutral in idealistic way. The difference is big enough for them to be entirely different animals.

lmm 8y ago

> Credit score is a private system where your ability to pay for things is assessed so loans are not given to people that don't pay them back. I don't see how that is anything like a government run "social credit" system. I've never understood this American notion that just because a private company is doing something that makes it fine. If you can't get a loan and can't find out why, what difference does it make whether it was the government or a private entity that blocked you? > Also, you avoid even having a credit score if you just pay cash for everything. Sure, but at that point you're unable to participate in much of society, just like someone without a social credit score.

zip1234 8y ago
"just because a private company is doing something that makes it fine" I didn't say that was what made it fine. I just said it is very different from a system that is government run and applies to everyone. Paying cash does not mean you're unable to participate in much of society. You can still use online services and do almost any transaction. Also, the outcome of a very bad credit score is that you have to pay cash for everything since nobody trusts that you will pay. The outcome of "social credit" is prison camp.
Lionsion 8y ago
> I've never understood this American notion that just because a private company is doing something that makes it fine. If you can't get a loan and can't find out why, what difference does it make whether it was the government or a private entity that blocked you? A lot, actually. It might help you to understand if you realize it's not really about the loan. It's about the political control that such opaque denials can be used to implement. A private company, especially a large public one, has a lot fewer incentives for exerting political control over its customers than an authoritarian government over its people. The private company actually has a lot of incentives for not doing so, since that kind of thing can alienate customers.
- lmm 8y ago
  A company's interests are superficially different from a government's - they don't care about which party is in power, sure. But they have much the same interests at a deeper level of: keeping existing power structures in place, not letting weirdos mess everything up.
  - Lionsion 8y ago
    > A company's interests are superficially different from a government's - they don't care about which party is in power, sure. But they have much the same interests at a deeper level of: keeping existing power structures in place, not letting weirdos mess everything up. You're reaching too far for an equivalence. Yes they have "deeper," more esoteric interests, but having them limited to those rather than supporting a party-regime is a far better situation. Private company credit scores are better than government social credit scores, even though they're not totally neutral in idealistic way. The difference is big enough for them to be entirely different animals.