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Re: Society of debt

Posted by Carole on November 29, 2001 at 06:28:03:

In Reply to: Re: Society of debt posted by Jessica on November 28, 2001 at 18:49:30:

It's interesting that in some feudal relationships, like we saw in Matewan, debt is used to lock people into serving a single master, while in capitalism debt seems to lock people into simply having to go find a job. In other words, in capitalism people get locked into serving the whole class of capitalist masters.

: The way that i see it, there really isnt good debt. Not that I can think of. Although I do understand that there good things that lead one into debt that only promote the economy. (Like in Its a Wonderfull Life, when ppl get a morgage they only work harder.)

: What I'm really talking about is the consumer society in the US. As ppl want more things, (like new technology, cars, etc.), since it is so easy to buy things on credit, it is easier for them to go into debt. It seems to me, that the general public is not informed well enough that they understand the agreements that they sign onto when they take out loans, second morgages, and buy things with their credit cards. Especially with how it easy it is for college students to get credit cards, even when they are not producing an income, it just solidifies this whole theory I have on the society of debt in the US. I hope that helps to clarify my idea.




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