this post was submitted on 10 Jul 2023
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Inflation does very clearly not serve the public good. That aside, causing havoc in banks and medical institutions would have other unpleasant effects.
How about cleaning the bottom 10%'s debt, with the earings from one week of the top 0.1%?
Ah, you mean unauthorized "redistribution", not unauthorized "vanishing debt".
Technically should do less harm in terms of inflation, but money lying around is different from money being used, so there'll still be an increase in inflation.
The part about causing havoc - kinda same, there may not be direct inconsistencies as in the initial variant, but there'll still be some confusion due to the "top 0.1%" possibly being petty and trying to get their money back.
I frankly prefer changing the rules so that there'd be fewer artificial barriers for competition and economic efficiency to this. Say, patent law and trademark laws and IP laws have basically outgrown their usefulness and are now just a plague. Same with various licenses and practices for medical/pharmaceutical stuff (I know that things should be tested and an average person can't tell a hoax from a normal thing, just entities doing certification shouldn't be able to block stuff which would then be used to create oligopolies). Same with telecom. And so on.
Except for air traffic, water traffic, road traffic and radio, of course. Not regulating those would mean, eh, real havoc.
You're ruining the circlejerk with your realism! ๐
Edit: I think Mr. Robot gave a good glimpse what would happen if all debts were wiped. It sounds fun on paper, but in the end, the people with the least money would suffer the most.
I personally just lose any interest in conversation when I realize that my counterpart doesn't want a working system or a better world or really some justice, they simply want to rob someone who has more than they do. No deeper purpose or something, just plain envy.
It's like certain moments in sex. So bloody frustrating.
And, of course, the only leftists I've encountered who wouldn't be what I describe were book characters. Yeah, nice characters, fascinating, really making me wish something like this was possible, but even with the depth limitations for describing an entire person on paper they were still deeper that RL leftists, FFS!!!
I have at least met living sincere good-willing ancaps and living sincere good-willing fascists (sic) even. The only people I know in person I could possibly call a real sincere good-willing leftist would be my sister, and maybe one of my cousins, and one DM (though from a few conversations I suspect he just has, eh, a leftist background, but is more literate in economics than such people usually are).