Society legitimately cannot function without debt. I agree giving people predatory “micro loans” for groceries is dystopian but every society that has discovered agriculture has also discovered the concept of debt because it’s a natural consequence of an economic order so tied to seasonal cycles. Interest is also not bad, and every society that has developed debt has also quickly developed interest. Societies that have religious prohibitions or taboos against interest find workarounds because it’s proven to be a critical part of how economics works. Personally I am glad that I was able to buy a house for hundreds of thousands of dollars I don’t have yet because I will be able to pay off that in time and I appreciate that the bank is willing to lend me that money for such a long time at a relatively low rate of return for them. The Soviet Union even had banks that offered loans with interest but they were run by the State. It’s kind of unavoidable.
- 0 Posts
- 2 Comments
Joined 4 months ago
Cake day: April 4th, 2025
You are not logged in. If you use a Fediverse account that is able to follow users, you can follow this user.
Lmao I’m doing the exact thing. I’m a ChemE and I have been doing a lot of work on AI based process controls and I have coached members of my team to use “ML” and “Machine Learning” to refer to these systems because things like ChatGPT that most people see as toys are all that people think about with “AI.” The other day someone asked me “So have you gotten ChatGPT running the plant yet?” And I laughed and said no and explained the difference between what we’re doing and AI that you see in the news. I even have had to include slides in just about every presentation I’ve done on this to say “no, we are not just asking ChatGPT how to run the process” because that’s the first thing that comes to mind and it scares them because ChatGPT is famously very prone to making shit up.