Greece is in a bad way, Portugal is right behind, and America is skating on thin ice... So, what if we just called a do over? Pick some point in the past and "re-set" everything to match that time and day? Would that work? Assuming we can get politicians and leaders to all agree on a time and day - which wouldn't happen, but try to think...
Economics - 3 Answers
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1 :
In ancient times there used to be "jubilees" every 50 years where all debts were forgiven. Seemed to work well.
2 :
how do you propose we do that? money is never created or destroyed. it just moves around. if you tell greece its ok you have a debt you dont have to pay it back. then someone/something is going to have to give up 13 billion euros. and they would get in trouble.
3 :
First, you would also need to re-set the population to that day, both in terms of the number of people, and the things they want to own. Second, resetting Greece is like giving an alcoholic a new kidney. It will make him healthier for a few years, but it will not stop him from ending up where he was before the reset.
