Bankruptcy and Socrates: what do they have in common?

     Recently, I have been reading about and materials belonging to some of the ancient Greek philosophers. Socrates left behind no works or books. What we gleam from Socrates and who he was comes from students of Socrates like Plato and others. One of the comments Socrates is known to have said is, “When the argument is lost, slander becomes the tool of the loser.” I absolutely love this statement made by Socrates because it is 100% truth. How often have you been in a debate with someone only to have the other person resort to name calling or worse? Socrates was himself punched, kicked, had his hair pulled, and ultimately killed for searching for the truth. And yet today, in 2021, slander is alive in well from those who try and conceal bad faith arguments or bad acts.

     What does Socrates have in common with bankruptcy? Bankruptcy, like Socrates, yearned for the truth. Bankruptcy is a search for the truth. When you file bankruptcy, you become transparent about your assets and debts. The truth of the matter is revealed. You need to disclose your assets and debts and then it is learned that you need the relief from a bankruptcy discharge. It is the cleansing of your finances from a sickly state to a healthy state.

     The same thing holds true for the truth. When you debate the concept of truth of a particular statement, it is a search for the pure truth. In the process of discerning the truth, you scrap certain arguments made that prove to be untruthful or made in bad faith. The major lesson of Socrates was simply that the more he questioned things, the more he realized how little he actually knew to be true.

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