You complicate the issue too much.<p>What would you prefer, to live in a Somalia with 0% public debt or in a Japan with 300% public debt? And why? Because in one there is real infrastructure and knowledge and the other not so much.<p>Or if we want to go all science fiction. In what future do you prefer to live? One with economic fusion, artificial intelligence, and robots that do the entire job but a 300% debt or a future of 0% debt and less technology or infrastructure that today.<p>Debt is a political arrangement and organizational issue. Real wealth comes, surprise, from real wealth.