Explanation on the “unlimited debt recovery” setting in Chapter 2

One person sets the rhythm, and a group of people talk nonsense without reason.

I originally wanted to explain it in my acceptance speech, but my blood pressure has gone up and I'm afraid it won't come down, so I'll explain it now:

The issue of "unlimited recovery of personal debts" is related to the development history of personal bankruptcy law.

Our current personal bankruptcy laws provide:

When the debtor becomes insolvent, all of the debtor's assets are used as liquidation objects and are used to repay the debt. Debts that cannot be repaid are written off in one go, or repayment is postponed indefinitely, that is, when the debtor has money, he can pay it back.

But when did this phenomenon of “limited recovery of personal debts” appear?

It’s the second industrial revolution, gentlemen. This is what happened in the mid-to-late 19th century in reality.

The corresponding historical event is the British Bankruptcy Act of 1825. It was not until this point that personal bankruptcy was officially removed from the classification of crime, and bankrupts were no longer considered criminals.

The iconic product of the second industrial revolution was the generator, and the iconic product of the first industrial revolution was the steam engine.

In this book, there are no generators at all in the Tatis empire. It is in the stage of the first industrial revolution. How could the personal bankruptcy law of the second industrial revolution appear?