Comment by thrwyoilarticle
3 years ago
>Abolish credit
Expand?
I and probably you are probably working in arrears for our employers. That is, we don't get paid until after the work is done. That is extending our employers a credit line. The same applies for rent, for utilities, for phone data, for taxes...
Credit is at the root of every economic crisis because credit is money.
Hell, taking items from a store's shelves up to their counter is, in a sense, the store extending you credit. Handing over cash so as for the cashier to open a glass case to retrieve an item, vice versa.
There are certain baseline levels of social trust that we tend to take for granted. Easy, too, to overlook that they are easily violated and not universal.
I get paid as soon as my work is done. Sometimes literally and in physical cash. I'm working on transitioning to getting paid for my time before people even enter my office.
Credit is money, but it shouldn't be. We allowed it to become money and it's the reason for so much of the insanity we face today.
Credit was a medium of exchange before cash existed.
So you will be indebted to your customers until their time is up.