“When national debts have once been accumulated to a certain degree, there is scarce, I believe, a single instance of their having being fairly and completely paid.” - Adam Smith, in “The Wealth of Nations.”
“We have now imprisoned one generation of debtors after another, but we do not find that their numbers lessen. We have now learned that rashness and imprudence will not be deterred from taking credit; let us try whether fraud and avarice may be more easily restrained from giving it.” - Samuel Johnson (1709-1784)
The Economist: A special report on debt. Repent at leisure
“We have now imprisoned one generation of debtors after another, but we do not find that their numbers lessen. We have now learned that rashness and imprudence will not be deterred from taking credit; let us try whether fraud and avarice may be more easily restrained from giving it.” - Samuel Johnson (1709-1784)
The Economist: A special report on debt. Repent at leisure
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