Why is the World in debt, how do we pay it off, and why should we care?
In: 69
Opinion:
One thing I can think of is time-related transactions/exchange. The basic exchange is “now exchange”. You and I exchange with “what we have” now.
But we can also exchange “what we can” or “what we will have”. I have apple, you have cow ^(readied). Also mean I have orchard, you have barn. What if you want orange, I want goat. Both don’t have that, but “we can have” that, in time.
Larger exchange won’t have everything readied. So, we buy in debt. Pay first or owe first, but half of the exchange “will be liable/in debt”.
#### Why?
Exchange of expertise or anything that need great investment of time, materials, land, etc ^(without wastage generating expensive things like houses, but no one buying)
#### How?
Contracts, treaties, agreements, plans… We ***will*** repay, if:
* we want to keep exchanging needs
* we don’t want to isolated/distrusted by the world for all kind of goods and services
Greater heights only reachable with specialisation and exchange. If every country is for himself, then they need to self provide for doctors, engineers, softwares, etc
If an exquisite tech need a lifetime of a human to achieve, think of what can we achieve if 5 human exchange on 5 lifetime expertise, simultaneously.
**Edit:**
By the way, I think the concept I’m talking has the “fancy name” called **comparative advantage**.
Edit:
Next issue. Owing debt to carry an exchange is not an issue. The real issue is, the large power or payment, that no human can resist without being corrupted. Think of a payment for a plan to build huge rails. The payment for materials are received partly first, in debt. This large payment can be billions. If the **person in charge** fulfill its duty without corruption, trust will grow, and more huge plans/projects can be exchanged.
But it’s hard, for large transactions:
* Secured from everyone so nobody can steal ^(trust issue)
* Complicated needing many human resources and know-how of every fields ^(choosing who to do it, some is not honest but can we tell as a layman?)
* etc
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