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jkaufman comments on Buying Debt as Effective Altruism? - Less Wrong Discussion
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Comments (47)
Wouldn't that kind of contract qualify as illegal indentured servitude?
"I'll give you $X today if you give me $Y per year in the future" isn't servitude; it's an annuity!
It sounds a lot like a loan. Giving loans to people who have gotten into debt that they can't pay off tends not to work out very well.
Even if it's a bad idea, that doesn't make it the particular bad idea that lmm alleged it was.
For fixed Y yes. A proportion of your income makes it servitude.