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Society would collapse
It wouldnt collapse.
It would slow down for a little while, then things would get better.
Functioning credit markets are essential for a complex society. They allow people to smooth consumption throughout their lifetime and they allow people to pool resources for large projects.
Societies that don’t have functioning credit markets are very poor.
Maybe it should be limited.
People with credit cards.....dont know finances well.
Dumb people will find dumb ways to screw up their lives in any system. It’s not a good reason to adopt a less efficient system.
Im saying maybe it should be harder to get credit.
Instead of begging people to get credit cards and make dumb decisions.
People are either adults who can make they’re own decisions or they’re dependents who need guardians.
Free societies are for adults.
I just think it should be more difficult.
Like earning a degree, it should be a learning process.
Not a drinking one. lol
What do you think would happen if credit was abolished?