More loans misery as provider goes under

Billy Camden, FE Week, Mar 10, 2017
Commentary by Stephen Downes

The big difference between corporations and societies is that corporations can fold while societies can't. The people in a society don't disappear, the obligations don't just go away, the debts cannot simply be written off. That's one of the major reasons why essential social service, like education, should not be left in the hands of private industry. All the measures we take to protect investors in the case of a business failure end up harming the people in society who depend on these services.

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