Tag Archive: forgiveness

A Black Hole of Debt

In the German language, the word for debt – ‘schuld’ – means the same thing as guilt. Someone who has a tremendous amount of guilt would seek forgiveness. So the term many economists are now using – forgiveness – in regards the world’s growing debt problem would seem appropriate. But this term does not encapsulate the crises that would result if a large portion of debt was erased by policy makers. Until recently, the term ‘debt forgiveness’ in regards to government and corporate debt was... Continue Reading