Quote:
Originally Posted by ASAP
in a "true" capitalist environment... failure is a basic tenet... in fact that's how the theory was written... if banks and corporations fail... it may hurt everyone but it brings up a fresh and fair restart for everyone...
what we have ended up with is someone always benefiting off of someone else's money thru taxpayer subsidy's.... PPP loans, bailouts whatever you want to call it... every single time this ends with an unfair transfer of wealth... so in that instance, people who are paying record prices for student loans do have a right to complain... a right to forgiveness no... but then why forgive anything?
this also comes back to mergers and acquisitions... in a "true" capitalist environment those would be blocked to allow max competition... we don't do that...we consolidate and further consolidate wealth
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Agreed - but I guess my point is to have some flexibility within the system to address problems without having a hardline view on what "should" happen based on a specific economic ideology. I'm all for accountability and people not getting free handouts... but it's hard to say "we'll just leave that up to capitalism to sort out over time" when you're talking about people's livelihood - in some cases generations.
In my view - if forgiving student loans (in addition to reforming higher education and instilling better awareness/knowledge) is what is best for people as a whole, I'm all for it. On the other end, if doing so will be detrimental, then I'm against it.