Asset Ownership and Our System of Deepening Debt-Serfdom
Debt-serfs who make the difficult and risky transition to small-scale business owners find they have simply moved to another class of serfdom.
The core dynamic of debt-serfdom is that debt-serfs must borrow money to buy essentials while the wealthy borrow to invest in productive assets.
This is not merely a random result of free-market capitalism; it is the structure of cartel-capitalism in which highly profitable goods and services must be paid for with highly profitable debt.
This need to borrow to pay for essentials is already evident in student loans, vehicles and housing.
The cost of these essentials is so high that few debt-serfs can borrow enough to pay for these essentials and then have enough borrowing power left to buy productive assets.
Those few who do attempt to buy productive assets face regulatory hurdles and costs that limit their ability to own or launch small-scale profitable enterprises.
The net result is a system in which the vast majority of productive assets are owned by the few who then have the means to exploit the many.
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