Has the credit card analogy been maxed out?

A recent article by Alex Hern at the New Statesman has argued that likening the UK economy to a credit card is ‘pernicious’, and in a resulting exchange via Twitter he has called it ‘idiocy’ to use it. But the credit card analogy has uses is because there is an upper limit to both government borrowing and credit card borrowing. And the closer you are to it, the more dangerous it becomes. Ability to print money does not change this fact. 

Read the full blog post here

Source: http://www.iea.org.uk/blog/has-the-credit-card-analogy-been-maxed-out

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