My mother is not an economist. However, she is from Yorkshire. Moreover, she reads her Bible.
One thing I was regularly taught whilst growing up is, that it is wrong to live off debt. If you want something, then work and save. Do not live off money you do not have. It's foolish in itself, and a recipe for disaster in the future.
The people running the world's economies are very clever people, with lots of letters after their names. They went to big universities. They can juggle all kinds of big words and concepts. However, they appear to have neither come from Yorkshire, nor read their Bibles. As a result of one or t'other, they seem to have missed this vital lesson. Hence the Great Debt Crisis, which after 5 years still has no end in sight.
But of course, someone says, the Bible is just religion. And running economies is the real world. Aah...
Psalm 119:97 Oh how I love your law! It is my meditation all the day. 98 Your commandment makes me wiser than my enemies, for it is ever with me. 99 I have more understanding than all my teachers, for your testimonies are my meditation. 100 I understand more than the aged, for I keep your precepts.