Navigating the Depths of Debt
In recent months, my contemplation of the concept of debt has led me to a deeper understanding, prompting me to explore and share my thoughts on this intricate subject. Interestingly, this exploration was spurred by passionate debates with friends who argued that no significant entity, be it a great company or government, operates without incurring debt. This opposition propelled me to reassess my stance, prompting a more in-depth dive into the dynamics of government debt and its impact on national health. Notably, heavily indebted countries like the USA and UK continue to function, inheriting more debt while undertaking substantial projects. However, my research revealed that sustained debt at the corporate level, especially over extended periods, is harder to find. "Constructive" debt typically arises from situations where expenditure exceeds revenue, often growing due to infrastructure expansion for governments. Governments, in particular, tend to readily turn to debt, be...