• If money and debt weren't created in this way then I don't think it would be possible to have the extreme wealth inequality that has been getting worse since the 80s.

    I think the serfs in medieval Europe would beg to differ. Quite vigorously. Wealth inequality is getting worse now than it was in recent history, but it's waaaaay better than it has been historically, regardless of the form of currency used. As far as I recall, the Normans had a pretty firm view of wealth distribution, and that was that they should have it all, and that was as way back as the 11th century before fiat currencies had even been thought of. And they did indeed manage to have all the wealth. It doesn't matter what form wealth takes - if the people in power decide that they and their mates should have it all, they will. Because they're in power.

  • I think the serfs in medieval Europe would beg to differ. Quite vigorously. Wealth inequality is getting worse now than it was in recent history, but it's waaaaay better than it has been historically

    Yeah, I'm not suggesting that a return to serfdom should be considered.

About

Avatar for snottyotter @snottyotter started