2 ms·
Money is abstract labour. Debt is promised future labour. An individual cannot become wealthy in currency that retains meaningful value without others piling up
by z0r 8y ago
Money is abstract labour. Debt is promised future labour. An individual cannot become wealthy in currency that retains meaningful value without others piling up implied debts. If you have saved money but no else has debt you can't compel anyone to work in exchange for your saved money. Debt is inherent to currency.
- XorNot 8y agoThis deserves more upvotes. This is the most succinct, tangible explanation I've come across recently.