Leverage and social involution

The essence of leverage is to consume first and pay later, and to overdraw future income through borrowing. This has accelerated the flow of social resources to a certain extent, but it may also lead to excessive concentration of resources.

Real example: Consider the real estate market. A person who does not have enough cash to buy a house can obtain real estate through loans, which not only accelerates the appreciation of his personal assets, but also allows developers to recover funds faster. However, this model also accelerates the polarization of the rich and the poor and involution in society.

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