Debt is the price we pay to live in a modern world. Stop allowing a state to go into debt and most of our infrastructure will stop being maintained, large scale projects will not exist due to lack of funding. Debt can be good and debt can be bad, like most things in life by the way. However, with the various issues around debt in lots of countries and economies across the world, we may need to rethink progress. The world has grown so fast in the last century, so our debt. We will leave an almost dead planet to our kids and a debt they will make years to repay.
Although I am not a macro economist, not an economist, I keep thinking of debt has good and bad, depending on whether it’s generating wealth or not. I could had to this its neutrality to the environment. In other word, a wealth generating debt that is taxing our environment is bad and so is a non-wealth generating debt that is neutral or positive to our environment. Although we can question the latter in terms of wealth, since if it’s positive to the environment, then it’s generating a certain form of wealth.
Look at your debts. Get rid of those that are making other wealthy and keep those that are making yourself wealthy!