Debts have reached a level that is causing trouble for many communities and states all around the world. To an extent, these debts are exploitative: future generations of tax payers have to pay them, or pay interest on them, and in many cases, they don’t get anything in return. They will have to pay for things consumed long ago.
However, not every bit of those debts is exploitative. If we use credit to finance things that benefit people of the future, it is fair to let them pay a share of the costs.
For example, if we build a bridge that can be used by people from the next generation, it is fair to inherit both the bridge and some of the costs to them. This means that in such cases, financing by credit is all right. If today’s taxpayers would have to pay for the bridge 100% and then…
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