The language of debt and ethics.
When E. E. Cummings wrote “i am never without it (anywhere / i go you go, my dear; and whatever is done / by only me is your doing, my darling),” he was talking about a lover, but he may as well have been talking about a debt. For we are wracked with debt, especially with student debt, which last month the Federal Reserve Bank of New York reported to be the second largest household debt category after mortgages. It’s also the debt category with the highest delinquency rate—perhaps because its balances are unpayable, given the way the global economy is stacked against the young. But still creditors wonder: How can they make their debtors pay up? The key may be in asking with the right words, and for the right reasons. Read More