Re:What Paul Graham Is Missing About Inequality – Tim O'Reilly
by bcheung on Monday January 25, 2016 @08:29PM
(#10971333)
It's not an either or.
Debt is a bad amplifier if not used correctly. Racking up huge student loans to get a degree that is not in demand will lead to poverty. The same with excessive credit card debt. Leverage works both ways.
Certain people will always have destructive qualities. The percentage of people digging their own graves hasn't changed much. It's just that instead of a shovel, they now have a bulldozer.
Debt is a bad amplifier if not used correctly. Racking up huge student loans to get a degree that is not in demand will lead to poverty. The same with excessive credit card debt. Leverage works both ways.
Certain people will always have destructive qualities. The percentage of people digging their own graves hasn't changed much. It's just that instead of a shovel, they now have a bulldozer.