On Farm Loan Waivers

Greatbong argues that waiving off loans of farmers would only establish a bad precedent with minimal benefits to distressed farmers,

 However what the government has done, instead of concentrating on those regions that need special attention, is that it has written off loans universally for all small farmers all across the nation. By doing so it has kept out of the ambit of its munificence all those who have repaid their loans, not because all of them could afford to but because they felt they had to. By rewarding loan defaulters, irrespective of their financial conditions, the government has sent an unmistakable “Tough luck suckers” message to those who made their payments. Such a gesture can only have detrimental effects on recovery for future loans—those who have been penalized for obeying the terms of the loan will not, and should not, make the same mistake again.