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Andreas Schmieg

Sr. Business Analyst, Ecolab

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Can you imagine a society without consumer debt?

Call me crazy. I am trying to imagine what our society and economy would look like if the majority of people abandoned consumer debt (except for housing, maybe). People wouldn't be stuck in jobs just to make their next car payment. Instead of paying interest, people would have disposable money to do things with. The car industry would likely have a severe problem. Anyone want to join this crazy idea? What would be better or worse?

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  • Mar 13 2013: Hmm... Perhaps some sort of interest-free loan from the state/some organisation could work? I'm reluctant to propose that as some law, though, since I'm not very well-versed in the relevant fields.

    I think it would be more effective to work towards a change in priorities from accumulating wealth or influence to increasing knowledge and understanding for all. The structure of society and the economy would likely follow to reflect that, I assume.

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