The Burden of Debt: A Threat to Freedom as Great as Conquest
In the seminal work “The 5000 Year Leap” by W. Cleon Skousen, the 27th principle underscores a profound assertion: “The burden of debt is as destructive to freedom as subjugation by conquest.” This principle invites a deep examination into the nature of debt, its impacts on individual liberty, and the broader implications for a society’s autonomy and governance. Here, we delve into this principle, its historical context, and its relevance in contemporary society.
Historical Context
Skousen’s work emphasizes that the Founding Fathers of the United States were acutely aware of the dangers posed by debt. They viewed heavy national debt as a form of bondage, akin to the loss of liberty through conquest. The principle echoes sentiments from various historical documents and figures:
- Thomas Jefferson, for instance, famously cautioned against the accumulation of debt, especially government debt, which he believed would burden future generations, thus undermining their freedom.
- Alexander Hamilton also discussed the implications of national debt in “The Federalist Papers,” particularly in Federalist No. 30, where he argued for the necessity of government’s ability to borrow, but with caution and responsibility.
Debt as Subjugation
The analogy of debt to subjugation by conquest lies in the control it exerts over individuals and nations:
- Individual Freedom: At the personal level, overwhelming debt can dictate life choices, restrict mobility, and curtail personal freedoms. Just as a conquered people might be compelled to serve their conquerors, individuals under the yoke of debt serve their creditors, often sacrificing their autonomy in the process.
- National Sovereignty: On a national scale, debt can lead to foreign influence or control, where a country’s economic policies and decisions might be swayed by those to whom it owes money. This can be likened to a form of modern imperialism where economic leverage replaces military conquest.
Economic and Political Implications
Skousen argues that the freedom of a society is intrinsically linked to its economic health:
- Economic Stability: High levels of debt can lead to economic instability, inflation, or reliance on foreign creditors, which might dictate national policy. This scenario can erode the very economic freedom that allows for prosperity and personal growth.
- Political Influence: As nations or states accumulate debt, they may find their policy-making influenced by those who finance their debts. This relationship can lead to decisions that favor creditors rather than the populace, thus compromising political freedom.
Modern Relevance
In today’s global economy, the principle remains highly relevant:
- Global Debt Levels: With global debt reaching unprecedented levels, nations are often seen navigating a delicate balance between economic growth and debt management. The recent economic crises have further highlighted how debt can lead to austerity measures that directly affect citizens’ quality of life and freedoms.
- Personal Debt: The rise in personal debt through mechanisms like student loans, credit card debt, and mortgages has significant implications for individual freedom, potentially leading to a life of financial servitude that parallels historical forms of subjugation.
Conclusion
“The 5000 Year Leap” by W. Cleon Skousen serves as a reminder of the ancient wisdom that debt can be as ensnaring as chains. The 27th principle is a call to vigilance, urging societies to manage debt responsibly to preserve the freedoms that define democratic and free societies. The historical warnings from America’s founders resonate with current economic realities, making this principle not just a historical note but a pressing call to action for both individuals and nations.
References:
- Skousen, W. Cleon. “The 5000 Year Leap: A Miracle That Changed The World.” National Center for Constitutional Studies, 1981.
- Further insights into the founders’ views on debt are gleaned from “The Federalist Papers” and the writings of Thomas Jefferson, which are referenced in various contexts throughout historical and economic literature.
- Modern implications and interpretations are also drawn from contemporary economic analyses and discussions on platforms like Goodreads, where readers reflect on Skousen’s principles in today’s context.