The Germans had their WW2 debts largely cancelled in 1953 to aid their industrial growth so that they could help oppose the Soviets:
https://en.wikipedia.org/wiki/London_Agreement_on_German_Ext...
This is currently a bit of a sore point with some Greeks...
Interesting I did not know this
Re:The Unaffordable Urban Paradise
by firebird84 on Monday June 26, 2017 @10:17AM
(#14636956)
For your last example, it could give someone the ability to liquidate their position (from the buyers of that stock), get $100 in cash to pay a plumber, or if you're arguing about their social class perhaps the last $100 of down payment needed to finance the new yacht they had built. That yacht-building also creates jobs. Most likely that stock is institutionally owned though, so it goes to a retirement fund redemption somewhere producing income for a retiree to participate in THEIR local economy.
"Winning a war" is surprisingly useless, economically.
A higher minimum wage would certainly not create "mass unemployment". Most research points to unemployment remaining about the same. That's because there are different mechanisms involved that work in opposite directions.
Firstly, very few people would actually lose their jobs. These are the people who create a value of, say, 7$/h, and would therefore be a net loss if their wage were raised above that level.
But that's quite rare. Most people working for minimum wage create value >= their wage. Currently, that value is "captured" by their employer and/or by the customers. Raising the minimum wage would just redistribute that surplus value: Instead of getting a Happy Meal for $6, the customer may have to pay $6.25. And instead of making $1 on the sale, McDonald's may only make 75cents. The employee gets 50cents extra.
Since, by definition, these are the poorest people, any extra cash they get is usually also spent rather quickly, If our employee uses their extra $100 for this month to get his shower fixed, it means extra business for a plumber. Compare to the current situation, where those $100 end up with McDonald's shareholders, and customers, who may use it to buy more shares and inflating the S&P500 without any effect in the real economy.