Is Debt Prosperity or Trap?
“What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?” Adam Smith Grandfather Bhishma lay on the bed of arrows and was preaching the future king of Hastinapur about political science, economics and the duties of the king. He took a deep breath and told Yudhishthira " Fire, debt and enemies must be dealt with quickly and completely. If there is any balance left, they can continue to grow. " The future king was listening with curiosity and was eager to learn about the complete knowledge from his grandsire. Each moment was important as the sun was moving from south to north. Either we read the quote of the father of modern economics or both ancient great scholars are advising to avoid debt. But the whole of modern economics is based on the debt that advises the public to borrow money. The aggressive campaign of banks and financial institutions has been luring more and more loans. Even democratic governments and public banks con...