Everyone is talking about the 'recession', 'credit crunch', 'bad economy', etc.  I am wondering where we would be if we did not have a credit system.  I know there are plenty of people out there that will jump up and say we  could not succeed or get anywhere without credit.

After participating in a simple online game by the name of Farm Town and seeing how people interact within the game, it made me think that maybe we should just do away with credit.  The way it works in the game (if you are not familiar) is you start out with $XXXX dollars and you have to use the money to plant crops or buy animals as well as hire people to help you work on your farm.  There is no credit involved, just everyone working hard, saving money for what they need and helping each other out.  Why would this system not work in real life?