When we discuss social and economic phenomena, we can't help but ponder a question: Why is it that the hundreds of thousands of the poor are like Mount Tai overpowering the same debts, while the tens of millions or even hundreds of millions of debts of the rich can be handled calmly?
The answer to this question can be glimpsed through Mark Twain's "Million Pounds" story. The work reveals a key point, which is that there is a significant difference in power and status between the poor and the rich in the social credit system.
The protagonist of the story, Henry Adams, has achieved a counterattack in life with a million-pound bill from the Bank of England. Before getting the bill, he was just a wanderer in a foreign land, but when he got the money, he became an "American millionaire" and quickly rose to the top of the social and upper class in a foreign country.
Although the huge bill was never actually spent, and could not be spent at all, Henry's change of status gave him unprecedented credit privileges – people were competing to invite him to take credit, and the larger the amount, the better.
In this situation, Henry was at first afraid of this sudden "gift", but when he was able to drive the stock market soaring and enjoy the thrill of wealth growth by relying only on the aura of a "millionaire", debt seemed to be no longer a problem for him.
However, everything changes dramatically when the million-pound cheque is accidentally lost under the carpet and he loses the "superpowers" that the money confers. Debt collectors flocked to the site, leaving Henry overwhelmed and overwhelmed.
He tried to pay off his debts with the stock proceeds that had increased in fame, only to find that the stock price had plummeted due to the collapse of his "millionaire" persona, and he was ruthlessly expelled from the exchange.
It wasn't until the banknotes were recovered that Henry was able to regain his "millionaire" aura.
This dramatic twist shows us how the predominance of the rich in the credit system is manifested. Normally, what the rich hold is not simply "money", but "assets" recognized and protected by power, which essentially become part of the state's power and have the characteristics of self-appreciation, that is, the so-called "money begets money".
As a result, even though their debts are in the billions, they are still able to cope with them thanks to their strong solvency and ample cash flow, as well as the protection of power.
In contrast, the poor are at the bottom of the credit system. Their "line of credit" is negligible, presented only in monetary terms, and is often not sufficient to generate sustained economic benefits, i.e., the "hematopoietic" function is weak. In this way, even a mere debt of hundreds of thousands can become the last straw that crushes them and plunges them into the abyss of despair. For them, it is not easy to maintain a balance of payments, and the pursuit of financial freedom is an unattainable dream.
However, this does not mean that the poor will never be able to change their fate. Just as a person's income gradually accumulates from 10,000 yuan per month, when credit accumulation reaches a certain level, it triggers qualitative changes, such as jumping from the initial 10,000 yuan to 100 million yuan or even 100 billion yuan, then "credit" begins to show its potential power attributes.
People with a monthly salary of more than 10,000 yuan may be shy away from spending on luxury goods, and can only occasionally buy their favorite goods in installments, and make careful calculations in their daily life, while people with a monthly income of one million can easily cope with all kinds of high-end consumption, and even show a calm and confident bearing on most occasions; as for the rich people who make money every day, they can sway freely in almost any consumption scene, even to the point of buying a store in a private store.
Further, as individual assets accumulate, the power associated with them will also expand, to the point where they may control the economic lifeblood of a city or even a country.
Of course, if the credit foundation of the rich - the power structure behind it collapses, their situation will also be abruptly reversed, just like Henry's dilemma after losing a million pounds, whether he can get back on his feet depends on whether he can integrate into the new power structure and continue his credit value. This is the deep logic behind the so-called "once a son of heaven and a courtier".
To sum up, as long as we ensure that the power behind credit still has the "hematopoietic" function of activating and maintaining the credit cycle, those rich people who sit on huge credit resources and the power behind them do not need to worry too much about the pressure of debt.
It also vividly illustrates the complex intertwining of credit and power in modern society, and how they shape the very different circumstances of different groups in economic life.