Debt leads to Impoverishment
The Money-lender and His Wife, by Quentin Metsys, 1514. Louvre Museum F or centuries a moneylender has existed in South Asian villages. He tells you that you can take any amount of money you need for anything you wish; only there shall be small monthly interest. They must remember to pay the interest regularly or with compounding, it would become huge, but they can take their time to pay back the original amount. Just in case they cannot pay that back too; they shall just hold the land as collateral. Since needs arise often, villagers take loans often. For centuries the money lender has become richer while the villagers impoverished. Money lenders who became very rich moved to cities and then the world and some of the richest persons in the world are from among such communities. The modern version of the village moneylender is banks that have pushed individuals and nations into a life of debt from the monthly credit card loan to huge ones on their homes or nations. Bu...