World is not enough in debt.
In order to economy Grow the debt is needed more debt we still have people whos debt free If more people get in debt then more economical activity so those in debt will work with 2 jobs not with just one Job.
We moving towards that more and more people will have debt burden on them car leases insurances mortgages and much more things.
UK payd off debt just few years ago and now they struggle.
More debt will make everybody working harder no debt makes society more lazy.
Okay, but jokes aside, you should know that what makes an economy grow isn't DEBT, but INVESTMENTS. it's not all about getting money and enslaving yourself, but what you do with that money. You're not totally wrong though, a lecturer of mine once said that a successful business endeavor is actually one that has 80% other people's money and 20% the founder's. I was so confused for so long as to how that made sense. It took me a while to realize that what he actually meant was that,
successful businessmen use shares and loans to make money for themselves and after a while of course, pay off their debt. And yes, the cycle continues, they would still continue to sell more shares, take more loans, and buy more shares, pay off more debt.
I must agree to him because his right that it's investments, instead of debt, are what actually power economic boom. The essential thing is how correctly money is applied to gain returns and create cost, not simply accumulating more debts. By leveraging funds from shares and loans, agencies can finance operations and boom beyond what they might attain with their very own capital because of this leverage it allows them to adopt formidable initiatives and enlarge their marketplace presence. To this date, the cycle nowadays includes elevating finances, investing in growth, and then paying off debt with the returns generated instead making more debts. As business prevails, they reinvest profits into further expansion and possibly raise more finances, driving endured boom. Therefore, my whole point agrees to this statement is while debt is an effective tool in facilitating funding, strategic use of these investments drives long-term economic success.