Comments by "Lawrence Ralph" (@lawrenceralph7481) on "Want to Fix US Political Division? Narrow the Wealth Gap, Says Investor Ray Dalio | GZERO World" video.

  1. To narrow the wealth gap you can either take from the productive or get the unproductive to produce more. The former reduces economic output y the latter increases it.
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  2. It was a old testament custom in some cultures. Not sure the New Testament Messiah ever mentioned debt forgiveness in the 4 gospels or Acts. Meanwhile debt forgiveness would undermine ever re paying the terms of the debt and therefore end the production enhancements of thoughtful borrowing. But borrowing is the way that markets mobilize more capital to expand the means of production and increase the productivity of labor in order to produce larger amounts than if they didn't borrow. The problem is not lending but that some borrowers aren't successful. Bankruptcy is a very clever societal adaptation to balance the need to repay with the need to get out from under unrepayable debt. This has all been figured out. In spite of that some people fail at it. Is that the problem of a clever system or the people who fail?
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