Like the article mentions, private sector credit systems have the same or similar result in dictating outcomes, but as long as its not from the state, nobody in the west will care about it. Which is very weird because it is exactly how people end up living in worse neighborhoods even if they have enough money to pay rent elsewhere, leading to worse and worse outcomes and no way to change that. A state sanctioned one…
private sector credit systems have the same or similar result in dictating outcomes, but as long as its not from the state, nobody in the west will care about it If I do something bad, like file for bankruptcy, it is wiped off of the "private sector credit systems" after seven years. China's scorekeeping is perpetual. There is no forgiveness. No second chances. Another important difference is that in the West, being…
This is in a special category of "not even wrong".
1) There's no singular Social Credit System at the moment, there are a dozen trials of different systems in different cities and by different corporations. As such, there's no singular scorekeeping, perpetual or otherwise.
2) In most of the experiments, not only can people get out from under with time, they can accelerate it by doing things that are deemed 'socially positive'.