This is the correct answer to this question. As stated, it's not economics, it's accounting.
The first known version of this story appeared in 1683, but it probably dates from earlier than that. Versions of this question have been appearing in accounting classes for over 100 years now. Most modern versions do not include a prostitute, however.
Most people get so hung up on the $100 bill walking away after "paying" all those debts that they don't see that the only thing that changed was the accounting.
People have been trying to use this little story as an example of everything that is wrong with society/goverment/kids these days/etc/insert your complaint here since 1684.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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