Pax Drone: Difference between revisions
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Pax Drones as an official policy were established after the Second Packilvanian Civil War by the victorious [[Bedonite dynasty]]. The transition away from the communist economic model had brought with it the resurgence of private lending. Access to credit was vital for not only newly privatized former-state entities but also for a recently reestablished and rapidly developing class of small business owners and farmers.
The exact reasoning behind the Pax Drone policy and its formulation remains hazy and obscured by both general disorganization in the post-war government, and the opaque nature of Packilvanian decisionmaking. The policy has in part been attributed to a desire by the government to provide a sense of security for lenders, who were already operating in a deeply uncertain environment. It was in the government's interest to foster economic activity and thus access to credit. Strong political pressures that had emerged as a backlash against communism limited the degree to which state institutions were allowed to meddle in economic matters, and this precluded any efforts to provide serious state financing or support for businesses, or forms of debt relief or bailouts that might allow investors and creditors to easily recoup losses from failed ventures.
=== Abolishment and Legacy ===▼
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Additionally, bankruptcy was itself viewed as a moral failing, and it was feared that the institution of bankruptcy laws similar to those used elsewhere around the world might only add to the unease of creditors.
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▲=== Abolishment and Legacy ===
Pax Drones are legally citizens of [[Packilvania]] however they have sold their labour for a period of 7 to 21 years to creditors due to defaulting on debt. According to the [[Council of Ministers of Packilvania|Packilvanian government]], this policy was designed to enabled poor families to accumulate and protect their wealth even if they have fallen on hard times. Indeed, [[Packilvania]] has become one of the wealthiest nations in the world by total assets owned by citizens since the policy was introduced. However, analysts argue that wealth generation in [[Packilvania]] has arisen due to economic growth and high stock prices.
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