Wandering Into Wisdom

This blog chronicles the knowledge, insight and wisdom I encounter every day as a leadership consultant, executive coach, educator, father, friend and citizen. This site is dedicated to my father, Louis (Jack) Laughlin, who passed on to me an appreciation for wisdom. A special thanks to my friend Isaac Cheifetz, a businessman and journalist, who helped me understand the value of blogs and encouraged me to write one.

Addicted to Debt*

I have heard various economists caution against the use of additional debt to stimulate the economy. They point to leverage as one of the key factors causing the crisis and worry that additional debt will amplify the problem. Their fear reminds me of one the key dynamics in addictive systems. The substance plays a dual role as both problem and solution. One uses the substance initially to feel good but the aftereffect is to feel bad; which then brings one back to the substance to feel good again which ultimately makes one feel even worse. You get the idea. The addict eventually has to quit, suffer the withdrawal and abstain from any future use of the substance.

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