Gunnar Wetterberg
Strategic Concepts & Mechanics
Primary Evidence
"The author and historian Gunnar Wetterberg fundamentally praises credit. He emphasizes that it is one of humanity’s great social inventions, which increases the pace of economic development. “To make debt into humanity’s problem is wrong, but it must be kept in check.” It is never the debt itself that is the problem, but rather something in the environment that weakens or completely nullifies the debtor’s ability to pay. “Kreuger was up to his ears in debt, but he would have managed if Wall Street hadn’t crashed in 1929,” says Wetterberg."
"The author and historian Gunnar Wetterberg fundamentally praises credit. He emphasizes that it is one of humanity’s great social inventions, which increases the pace of economic development. “To make debt into humanity’s problem is wrong, but it must be kept in check.” It is never the debt itself that is the problem, but rather something in the environment that weakens or completely nullifies the debtor’s ability to pay. “Kreuger was up to his ears in debt, but he would have managed if Wall Street hadn’t crashed in 1929,” says Wetterberg."