7 ms·

Oh, hey. Somebody just reinvented indentured servitude. https://en.wikipedia.org/wiki/Indentured_servitude https://en.wikipedia.org/wiki/Indentured_servitude

by neffy 8y ago

Oh, hey. Somebody just reinvented indentured servitude. https://en.wikipedia.org/wiki/Indentured_servitude https://en.wikipedia.org/wiki/Indentured_servitude Good job.

kian 8y ago
Excepting that they aren't able to 'sell' your labor to a third party, nor are you expected to work for them after graduation.
- jklm 8y ago
  It's a financial instrument, so it'll probably be bought and sold at some point. Some investors will want to increase their risk, and others will want to decrease it.
  - kian 8y ago
    Upvoted you because you are correct, but the trick with indentured servitude was that they could sell where you work to a third party, and that in the meantime you had to work for them and no one else. That's what made it just another kind of slavery - the removal of freedom of association.
harryh 8y ago
Indentured servitude requires someone to work for a particular employer for a fixed period of time. ISAs do not do this. Words have meanings. You don't get to just ignore them to make an emotional point.
- deleted 8y ago
  [deleted]
- jklm 8y ago
  I think the parent poster might have meant sharecropping. But the point is still valid.
  - harryh 8y ago
    It's not that either.
T800M101 8y ago
Not quite. You can find it if you're looking for it, but I've known and heard of some companies helping out with student payment programs or scholarships under the pretense that you will work for them at an agreed upon salary, albeit a bit lower than standard. The initial case in the article suggests something similar where investors will "invest" in a student and bank on a successful career with repayments, similar to a student loan. I can't see this as being a negative that Indentured Servitude was.
SkyBelow 8y ago
The notion that paying back a loan based on percentage of money earned is indentured servitude seems to skirt very close to the libertarian memes that taxation is theft/indentured servitude.

by neffy 8y ago

Oh, hey. Somebody just reinvented indentured servitude. https://en.wikipedia.org/wiki/Indentured_servitude https://en.wikipedia.org/wiki/Indentured_servitude Good job.

kian 8y ago

Excepting that they aren't able to 'sell' your labor to a third party, nor are you expected to work for them after graduation.

jklm 8y ago
It's a financial instrument, so it'll probably be bought and sold at some point. Some investors will want to increase their risk, and others will want to decrease it.
- kian 8y ago
  Upvoted you because you are correct, but the trick with indentured servitude was that they could sell where you work to a third party, and that in the meantime you had to work for them and no one else. That's what made it just another kind of slavery - the removal of freedom of association.

harryh 8y ago

Indentured servitude requires someone to work for a particular employer for a fixed period of time. ISAs do not do this. Words have meanings. You don't get to just ignore them to make an emotional point.

deleted 8y ago
[deleted]
jklm 8y ago
I think the parent poster might have meant sharecropping. But the point is still valid.
- harryh 8y ago
  It's not that either.

T800M101 8y ago

Not quite. You can find it if you're looking for it, but I've known and heard of some companies helping out with student payment programs or scholarships under the pretense that you will work for them at an agreed upon salary, albeit a bit lower than standard. The initial case in the article suggests something similar where investors will "invest" in a student and bank on a successful career with repayments, similar to a student loan. I can't see this as being a negative that Indentured Servitude was.

SkyBelow 8y ago

The notion that paying back a loan based on percentage of money earned is indentured servitude seems to skirt very close to the libertarian memes that taxation is theft/indentured servitude.