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The bankruptcy system in the western world is far too lenient; it encourages ruthless risk-taking behavior which benefits selfish people at the expense of those
by jondubois 8y ago
The bankruptcy system in the western world is far too lenient; it encourages ruthless risk-taking behavior which benefits selfish people at the expense of those who are socially conscientious. This social credit system doesn't seem so bad when you put things into perspective.
If our system punished selfish people more, as a conscientious individual, I would be better off. I don't buy this bullshit that selfish people drive the engines of progress; they don't drive it; they just capture the proceeds of progress.
John D. Rockefeller himself admitted that "He who works all day, has no time to make money".
- wonderwonder 8y agoif you are born poor you miss out on the benefits that allow people to be successful. Take this site for example it encourages people to take risk and start a business. Worst that can happen if most of us fail is that we move in with our parents. If you grew up poor, maybe your parents don't have a place for you to stay if you fail so the ability to start a business is essentially closed to you as you don't have the safety blanket of your middle class colleagues. To claim that people who declare bankruptcy are selfish is quite a blanket statement and leads me to believe that you have never known poverty. Try being poor or even border line and breaking a leg or having a child get cancer. Try getting laid off for even a few weeks when over 40% of Americans cant even come up with $400 to cover an emergency.
- floe 8y agoI think the above poster is talking about corporate bankruptcy, while you are talking about personal bankruptcy. I agree with both of you :)