@zens @SmallisBeautiful @eniko In monetary theory though if I understand correctly it would lead to less productivity and worse matching as there'd be people who wanted to have something done and people who'd be ready to do it, but there potentially wouldn't be the liquidity to connect them.

Debt allows people to start working on a thing based on the expectation that the thing will make returns. And money as we understand it is created from debt and obligations, not from collateralized resources as we used to describe it. Goldbugs disagree.