Posts

Showing posts with the label indentured servants

Are You a Slave to Debt?

Image
Are you a slave to debt? The old cliche that money can't buy happiness is a dreadful over simplification of facts. There is no joy to be found in not paying bills.  A study of 33,720 U.S. households published in the January 2016 edition of Psychology Science found that those with higher levels of unemployment were more likely to purchase over-the-counter painkillers. Debt has very real effects on the body. In medieval times, life was very cruel when it came to debts.  In medieval times, there was debt bondage.  This is what people did when they borrowed money and then offered their labour as security for the loan.They could pass this onto their children.   Debt slavery was when a creditor made you a slave in lieu of payment towards your debt. In some countries like Greece, there was a time limit for how long a person could be in debt slavery. There were beatings and Floggings that sometimes came with debt. But you could be put into the stocks ...