is debt a form of slavery? Watch

nikki haley
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is debt a form of slavery?

https://www.youtube.com/watch?time_c...&v=3ZgbimaMnEI
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claireestelle
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(Original post by nikki haley)
is debt a form of slavery?
why would you think that?
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TrueDetective01
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Yes
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Revision Boiii
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Yes.
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Athematica
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No, it's a consequence of a contractual agreement, in which there were terms you agreed to. It's certainly an obligation. But imagine a world where contracts could be broken without consequence. Read some John Stuart Mill
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NonIndigenous
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No. No one forces you to borrow money.
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VeniViciVidi
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You can be a slave to anything. This just sounds like an attempt to provoke some anti-capitalist sentiment.
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Jang Gwangnam
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(Original post by nikki haley)
is debt a form of slavery?
Well it's part of a contract, so technically; Yes.

Though you can declare bankruptcy if it ever gets that bad.
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mel100
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Yes economic slavery. Most of us are conditioned to it. From borrowing funds to study to borrowing money for a mortgage. Then we have to work t pay it off. Its very difficult to avoid borrowing money. Especially with University fees
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Athematica
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(Original post by mel100)
Yes economic slavery. Most of us are conditioned to it. From borrowing funds to study to borrowing money for a mortgage. Then we have to work t pay it off. Its very difficult to avoid borrowing money. Especially with University fees
It's very easy to avoid going to university and owning a home. Debt is a tool we leverage to climb further than we otherwise could
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Athematica
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(Original post by Jang Gwangnam)
Well it's part of a contract, so technically; Yes.
These debts involve remuneration and so they are not slavery
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nikki haley
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(Original post by TrueDetective01)
Yes
yes
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Thomazo
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That’s absolutely ridiculous.

You WILLINGLY AGREE to take out a loan. With terms YOU agreed to.

Tell me, did slaves willingly sign a contract binding them to slavery?

You take out a loan because it BENEFITS you. You take out money because you need it now, in exchange you pay it back later with interest. This is a fair transaction. If you don’t think it’s a fair transaction, you are free not to take out a loan.

You are absolutely clueless if you even suggest that the two are related.
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Dcarefree
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For money to work there needs to be debt
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hannah00
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What is slavery is going to uni for 3 years and sacrificing weekends and evening for 2 years, then getting a job where they expect you to study AAT and CTA in the evenings whilst paying you just enough to make rent and council tax. You come home shattered with brain function reduced, so basically cant memorise anything but slog your way through poorly written kaplan notes.

Never having time to pursue interests or develop other means of revenue and financial freedom
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Anneyong <3
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I haven’t watched the video in the link you sent but I’m solely going to answer on the title question.

No I don’t think debt is a form of slavery. I’d say it’s the unfortunate consequence of your thoughtless planning that only benefits you for the moment being but ruins your life as the aftermath.

I feel like when you borrow or loan money from people you have to be sensible enough to give them something in return or at least have a promising source from where you can pay them back. Like don’t have nothing and loan money because honey, once all that money is gone, you’re in nothing but debt.

So I don’t think it’s a form of slavery. It’s just another irresponsible act that people are held accountable for just as criminals are enslaved behind bars for being...irresponsible and stupid.
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Luke5125
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(Original post by nikki haley)
is debt a form of slavery?

https://www.youtube.com/watch?time_c...&v=3ZgbimaMnEI
Yea it is a type of slavery
(Original post by mel100)
Yes economic slavery. Most of us are conditioned to it. From borrowing funds to study to borrowing money for a mortgage. Then we have to work t pay it off. Its very difficult to avoid borrowing money. Especially with University fees
Its a Torry propaganda system, break free!

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Quady
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The world cup is slavery.

Debt is merely bondage.
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Davman
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(Original post by NonIndigenous)
No. No one forces you to borrow money.
Oh yes they do! The conservatives have created the working poor with zero hours contracts where people work but also have to claim benefits.
If you're on a zero hour contract, you may need to borrow to pay the rent or else end up homeless.
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Andrew97
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No.
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