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If the poor owe debt to the rich, then it’s bad probably because it means a constant transfer of rent from the poor to the rich. And if a country owes money to
by konschubert 8y ago
If the poor owe debt to the rich, then it’s bad probably because it means a constant transfer of rent from the poor to the rich.
And if a country owes money to its richest inhabitants then it means that effectively, the poor owe the rich.
- trashtester 8y agoOwing money doesn't necessarily imply paying rent. Some countries have net negative interest rates. This is not at strange as it seems. In fact, throughout most of history, a negative interest rates on savings were the norm, simply because what was saved was usually grain or rice. People still saved in this manner. Even if 50% had been eaten by rats, having at least some extra food in the famine year would be worth it.