According to the Radical view, the growth of public as well as private debt is important as it

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Radical economists argue that the growth of public and private debt is a reflection of capitalism's fundamental flaw - its inability to realize surplus value. In other words, capitalism relies on the exploitation of labor in order to generate profits, but the continuous growth of debt reveals that the economy is not producing enough surplus value to sustain itself without borrowing. Therefore, the accumulation of debt is seen as a symptom of the underlying problems with the system.

According to the Radical View, the Growth of Public as Well