Credit Cards and a Health Economy

Abstract: (5 pp) Credit cards are not harmful to the growth of a healthy economy. According to Mike Walden, a North Carolina State University economist and expert on consumer debt, "High consumer debt is common when the economy is healthy. It isn't necessarily a bad sign, either, because credit purchases help create jobs. If everyone suddenly stopped using credit cards, they'd make far fewer purchases, manufacturing companies would have far fewer orders to fill, and the end result would be massive layoffs. Bibliography lists 4 sources.

Filename: BBcrdtcd.doc

Pages: 5

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Catagory: Money & Banking / Corporate Finance

Subcatagory: Accounting & Personal Finance

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