
BEING in debt and being unable to pay it off is one of the recurring nightmares for so many people and it has been the basis for many tragic lives in novels — most famously in Charles Dickens’s David Copperfield.
In David Copperfield, the clerk Wilkins Micawber was incarcerated in a debtors’ prison after failing to meet his creditors’ demands. His long-suffering wife Emma stood by him, despite his financial exigencies that forced her to pawn all her family’s possessions.
Micawber’s name has become synonymous with someone who lives in hopeful expectation but is always financially on the edge. This has formed the basis for the Micawber Principle: “Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.”



