More debt will make everybody working harder no debt makes society more lazy.
Debt can be a burden on a person's life even though he has worked hard but cannot meet his needs. This is because the income earned is not balanced with his expenses. Everyone certainly hopes to be free from debt so they can have a better life. I don't agree if debt is an incentive for someone to work hard. This will have a negative impact in the future, the same thing will continue to be done
Everyone doesn't expect to have debt even though the economic situation is going down, there are many negative factors related to debt because they have to have a fixed monthly income and they have to pay high loan interest, so I also agree that debt is not a motivation to work hard because without debt we are too try hard to earn enough monthly income. Anyone hopes to achieve financial freedom without being tied to debt, so we must take advantage of all work opportunities to increase our income.
However, there are some people who have succeeded in building a business with borrowed capital, but believe me, only some people can be successful with this plan because the loan carries the risk of losing the collateral if they cannot pay off the loan.
You are right. Debts should only arise due to some economic factors beyond our control and should not be seen as a motivating factor to work hard, working so hard just to clear up debts is not in anyway a progress made. People can actually do well without neccessarily going into debts, although it requires some high level of discipline and self control to be able to live within one's means, stick to budgets, save and endure too just to avoid getting into debts.
Debts no doubt can be very useful, but deliberately abusing the privilege can also be very disastrous. People just need to try as much as possible to within their means, invest in viable projects and only seek for borrowed funds when neccessary.