Debt towards humans, or towards natural / social phenomena? Classical accounting gives the wrong answer

I identify two very different types of debt:

  • towards human creditors, or
  • towards natural or social phenomena.

Debt towards human creditors is the most visible form of debt. It is recorded in public or private accounts, and is the purpose of active monitoring, in order to ensure that the debtor keeps a sustainable capacity to pay the creditor back. The rights of creditors are defended by national and international law.

However, debt towards humans is not as hard as what could appear prima facie.

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Equality – and social security – is better for everyone, and for a sustainable future

The Spirit Level: Why Equality is Better for Everyone was published in 2009. Written by [British epidemiologists and economists] Kate Pickett and Richard Wilkinson, the book highlights the “pernicious effects that inequality has on societies: eroding trust, increasing anxiety and illness, (and) encouraging excessive consumption“. It shows that for each of eleven different health and social problems: physical health, mental health, drug abuse, education, imprisonment, obesity, social mobility, trust and community life, violence, teenage pregnancies, and child well-being, outcomes are significantly worse in more unequal rich countries [than in equal rich countries]. (Excerpt from the Equality Trust website launched by the authors, with links to further details on each of the “health and social problems” listed).

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