Debt for future generations
Helena Wright, Department of Energy and Climate Change Youth Advisory Panellist has written a fantastic blog about the way in which we burden future generations with debt - financial as well as ecological.
She writes on her blog:
“Proudhon once said: “property is theft” but maybe he should have added “debt is slavery”. Once you are in debt, you have no choice but to attempt to repay and you can be drawn into a spiral of debt where you lose your will to be sensible. For instance, in the debate about student loans in the UK, we have not fully considered the mental pressure upon students who will be forced to shoulder the burden of repayments for many years. Students may be sucked into a system which reduces their ability to pursue alternative or lowly-paid careers.”
The post was first published on Wednesday January 26th 2011 by the online platform ‘Young Political Bloggers.
