Rising debt is, in itself, not necessarily a bad thing

I worked in a steel factory and from time to time I got to talk to one of the C level managers. Multiple times he complained about how we couldn compete with places like India where they don have to have insurance, safety regulations, or any safety equipment and (i remember this quote) “you can pull any Indian off the street and let him pour steel in his flip flops while paying him pennies without any benefits or entitlements”. I assuming that flip flop thing wouldn be true even in India but I always was a little bothered that he thought the key to competition was to pay workers next to nothing and even eliminate any safety procedures as long as it saved any money what so ever.

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