A Solution to World Debt
Upon adopting the system, the economy could focus on providing the basic needs. The market determines those products to meet the basic needs such as food, clothing, and shelter.
The other workers could produce exportable goods and services in exchange to pay the debt. The costs are ‘opportunity costs’ i. e. the products produced (with those resources) instead of others. Workers that make marketable exports in exchange for debt, are not making products for the compatriots of their country. They are making it for the creditors. This is economic bleeding of the country and creditors will absorb this. This is the cost.