Credit can be a great tool when used productively. In an advanced economy, credit does more good than bad. But it’s important to remember that borrowing creates cycles — and if the cycle goes up, it eventually needs to come down. I explain why this is particularly important today in my new book, How Countries Go Broke. Preorder today at the link in my bio. But if you’d like more context on how all of these pieces come together, I recommend you watch my 30-minute explainer “How the Economic Machine Works” on YouTube (linked in my bio). #principles #howcountriesgobroke #economics #credit