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YouDebateIt.com -- Should developed countries cancel the debts of the poorest nations?
Topic: Should developed countries cancel the debts of the poorest nations?

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Opinion #1
Debater: inishq?
being in debt is holding many back
People in the poorest countries of the world are forced into a debt from the day they are born till the day they die. Being in debt is holding many, who have the potential to succeed in life, back.
The problem with the developed countries is that all they care about is money. Their minds are corrupt so that when they see the charts of who owes them what, they just look at it and say "wonder when its coming in". They are greedy and care nothing of how the ones in debt will pay them off. They see all sorts of natural diasters happening, and these things lessen the cahnces of debt ever being repaid. Millions of people will die with a load of debt, and then their families will be responcible for it. Their stuff will be taken away. their lives ruined.The countries should have a little heart and say the debt is repaid as an act of charity and philanthropy.
Opinion #2
Debater: The Wild Goose
Cancelling third-world debt, while well-intentioned, is not wise.
First of all, the question asks if some nations should cancel the debt of others. This is a bad idea. Canceling the debt of a country's government does not cancel any personal debts of that country's citizens, so this won't help anyone at the bottom of society. More importantly, those governments usually contract those debts at the expense of their citizens, ruining the economy with bad economic policies then keeping the policies alive by taking out loans. Canceling debt would just act as an endorsement of these destructive policies, encouraging corrupt governments to further destroy the lives of their people. The truth is that most "aid" that governments of developed nations give to governments of third-world nations ends up being used to oppress and starve the citizens of those third world nations. Debt cancellation will do the same, giving new leases on life to corrupt, insolvent, destructive governments in the third world. Let's try private charity and aid instead.
Supporting URL[s]:
http://www.acton.org
http://www.mises.org
http://www.mises.org
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