Quote by Charles Dickens

Credit is a system whereby a person who can't pay gets another person who can't pay to guarantee that he can pay


Credit is a system whereby a person who can't pay gets anoth

Summary

This quote, often attributed to American journalist and political commentator Lewis Lapham, provides a concise interpretation of the credit system. It suggests that credit operates on the basis of one individual seeking financial assistance from another individual in a similar financial situation. In this dynamic, both parties face difficulties repaying their debts, resulting in a reliance on the assurance or guarantee of payment from the borrower. Ultimately, the quote highlights the interdependence and potential risks associated with credit arrangements.

Topics

Money
By Charles Dickens
Liked the quote? Share it with your friends.

Random Quotations