If one is to go down the Capitalist road then if a State or country becomes bankrupt for whatever reason then they should have a " fire sale " of enough assetts to pay off the debt.
The incompetent rulers of that entity would be purged of any assets they might hold to help pay the debt. This would at least concentrate their minds to their jobs. No more massive payouts to get rid of them plus pensions, plus perks. Oh no. They cocked it up and must help pay off imho.
There is a certain evolutionary principle here where the incompetent don't get to mess things up in the first place.
As it is, democracy puts incompetent losers into public office and hence the results. They retire on piles of public money which they didn't earn
The incompetent rulers of that entity would be purged of any assets they might hold to help pay the debt. This would at least concentrate their minds to their jobs. No more massive payouts to get rid of them plus pensions, plus perks. Oh no. They cocked it up and must help pay off imho.
There is a certain evolutionary principle here where the incompetent don't get to mess things up in the first place.
As it is, democracy puts incompetent losers into public office and hence the results. They retire on piles of public money which they didn't earn