2min chapter

Past Present Future cover image

History of Ideas: Hume

Past Present Future

CHAPTER

The Dangers of Debt

He recognizes that it's good for industry. It breaks up some of the strangle hold of established powers and the less adventurous aspects of the economy. He doesn't think it's immoral and wicked and a sin against God. This is a very pragmatic argument. But if debt is routine so that everything is funded that way because it's the path of least resistance, you have squeezed the room that you need in an emergency.

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