How many businesses and what kind of innovation would we have if not for the bk laws??
Who would take risk creating the badly needed jobs if you knew you would wind up in debtors prison or had a lifetime of slavery.
Before there were any bk laws the world didn't have much of an economy compared to today.
Is it a coincidence? Probably not.
No risk, no reward. Bk allows risk.
Bailouts which is totally different then bk is another story and that is far worse for the economy.
Who would take risk creating the badly needed jobs if you knew you would wind up in debtors prison or had a lifetime of slavery.
Before there were any bk laws the world didn't have much of an economy compared to today.
Is it a coincidence? Probably not.
No risk, no reward. Bk allows risk.
Bailouts which is totally different then bk is another story and that is far worse for the economy.
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