Seven new deadly sins: 6) Excessive debt

‘The financial crisis we’re in originated partly because of people running up huge debts they couldn’t pay,’ says Roy Baumeister of Florida State University. ‘Politicians and governments also spend beyond their means, creating debts that future generations will be stuck with. If people were mindful of avoiding the sin of excessive debt, both they and society would be better off.’

This post is part of the Research Digest’s Sin Week. Each day for Seven days we’ll be posting a confession, a new sin and a way to be good. The festivities coincide with the publication of a feature-length article on the psychology behind the Seven Deadly Sins in this month’s Psychologist magazine.

2 thoughts on “Seven new deadly sins: 6) Excessive debt”

  1. The financial crisis was caused in part by BANKS loaning money to people who could not possibly afford to pay it back. It is the business of a bank to be able to identify a poor financial risk and yet ordinary people are who have to cover their losses, after the pocketed massive profits. Let's put the blame where it actually lies.

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