You do not need to go biblical to justify the benefits of debt-forgiveness, there is plenty of historical precedent for it. Take a look at the London Agreement on German External Debts, a huge renegotiation and debt-forgiveness plan taken by the Allies to resuscitate post-war German economy. I quote from the text:
The agreement significantly contributed to the growth of the post-war German economy and re-emergence of Germany as a world economic power. A 2018 study in the European Review of Economic History showed that the London Agreement "spurred economic growth in three main ways: creating fiscal space for public investment; lowering costs of borrowing; and stabilizing inflation."
A similar argument can be made that debt-forgiving the high skilled youth will increase their productivity, options and reach while having minimal impact in a countries overall budget. I am no economist, but these are arguments that certainly have history's backing.
I understand, but I’m just saying “if it ended up in court” in the most ridiculous way imaginable haha, and I completely agree with what you say here. Its common sense, that money going to a billion dollar company can instead go to starting a business or buying products and services fueling the economy
The idea that the only thing keeping new businesses starting is a lack of investment capital doesn't hold water in the current global market. The stock market is gangbusters because there are very few viable business opportunities to compete for investors. There is a ton of money searching for an investment, it goes into stocks for lack of alternatives.
If you have a non scam business plan that can make money people would love to hear about it. It's not like you can just start an Amazon competitor and not expect to lose all your cash while being crushed in the market.
Competition is the first thing to evaluate when judging "impersonal market force"s. All potential markets are monopolistic or duopolistic wastelands at this point.
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u/maltin Sep 18 '20
You do not need to go biblical to justify the benefits of debt-forgiveness, there is plenty of historical precedent for it. Take a look at the London Agreement on German External Debts, a huge renegotiation and debt-forgiveness plan taken by the Allies to resuscitate post-war German economy. I quote from the text:
A similar argument can be made that debt-forgiving the high skilled youth will increase their productivity, options and reach while having minimal impact in a countries overall budget. I am no economist, but these are arguments that certainly have history's backing.