http://www.deliberatelyconsidered.com/2011/04/the-bonds-of-debt-borrowing-against-the-common-good-by-richard-dienst/ Informed reflection on the events of the day Wed, 15 Jul 2015 17:00:00 +0000 hourly 1 https://wordpress.org/?v=4.4.23 http://www.deliberatelyconsidered.com/2011/04/the-bonds-of-debt-borrowing-against-the-common-good-by-richard-dienst/comment-page-1/#comment-5952 Thu, 21 Apr 2011 17:14:43 +0000 http://www.deliberatelyconsidered.com/?p=4499#comment-5952 My recap of the book is admittedly reduced in the blog form. The breakdown of the economic system opens up recognition of the larger moral field. That’s more what was intended by the last sentence. The assumption of immense debt speaks to our unfulfilled utopias.

]]> http://www.deliberatelyconsidered.com/2011/04/the-bonds-of-debt-borrowing-against-the-common-good-by-richard-dienst/comment-page-1/#comment-5951 Thu, 21 Apr 2011 14:48:48 +0000 http://www.deliberatelyconsidered.com/?p=4499#comment-5951 I followed all of your points until the last paragraph. I probably should read the book. My impression is that Dienst points out that conceptually debt (financial and moral) is an obligation. The question raised is, what should we do about these financial and moral obligations? Debts are part of the fabric that helps bind society together. It seems to me that this fabric frays if and when obligations are no longer be honored. Perhaps that is what he means when he suggests we need to negotiate “immense piles of debt.” If and when obligations exceed our will and/or ability to honor them, then cracks develop and society becomes unstable. Once confidence is lost, it is very difficult to regain. Breaking the bank may not sound like such as bad idea until we realize that we are the economic and moral bank. The financial and moral obligations are between all of us.

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