system
Given the following post, respond as if you're commenting on Reddit:
human
If 3rd world debt was restructured or forgiven would it lead to economic growth or would the moral hazard make things worse off?
gpt
It would give a short term boost, sort of like an opportunity. But eventually, it would change nothing, as what decides economic prosperity are these countries' institutions, not their amount of debt. The effect on their debt taking wouldn't be large if this was an one-time thing.