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Banking on it

“We must take measures that there shall be no indebtedness of a nature to endanger the public safety. It is a menace that can be averted in many ways; but should a serious debt be incurred, we are not to allow the rich to lose their property, while the debtors profit by what is their neighbour’s. For there is nothing that upholds a government more powerfully than its credit; and it can have no credit, unless the payment of debts is enforced by law.” – Marcus Tullius Cicero, De Officiis (trans. Miller)

Published inCiceroEconomicsPolitics & LawThe Ancients

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