Micawber principle

plural Micawber principles

1. The claim that something good will turn up, especially when used to justify optimism.

   The Micawber Principle was weaker down here than up in the capital. But still and all: something might turn up.

   1977 April, Avram Davidson, “Manatee Gal Ain't You Coming Out Tonight”, in The Magazine of Fantasy and Science Fiction

   3 more examples

   Acting on the Micawber principle of always expecting 'something to turn up,' he is ever on the watch, and the way that at times 'he gets to a catch' is wonderful.

   1863 Dec, “Mr. E. M. Grace”, in Baily's magazine of sports and pastimes, page 208

   Now, the Colonial Treasurer proposes to deal with that deficit very much in the same way that private individuals deal with inconvenient liabilities—that is to say, by having recourse to paper, on the Micawber principle, with a "Thank God, that's done with!"

   1887 November 9, Parliamentary Debates: New Zealand. Parliament. House of Representatives, page 282

   In such extreme conditions, the Micawber Principle that “something will turn up” to save the system is the only reasonable basis for action by businesses and investors, even if no one can predict exactly what deus ex machina will appear to save the day.

   2011, Anatole Kaletsky, Capitalism 4.0: The Birth of a New Economy in the Aftermath of Crisis, PublicAffairs, page 29

2. The claim that financial surplus is success and debt is failure.

   The Micawber principle—it is not the level of income and outgo but their relationship that matters—is essential to budgeting.

   1992, Jack Rabin, Handbook of Public Budgeting, CRC Press, page 57

   2 more examples

   The Micawber principle is clearly basically an aspect of the crude growth maximisation approach. The underlying idea is that underfulfilment, even by a fraction, should be perceived as something essentially shameful.

   1985, David A. Dyker, The Future of the Soviet Economic Planning System, Croom Helm

   The Micawber Principle has value as financial advice, but as a historical argument it is deeply mistaken. Contra Micawber, income has not always placed an absolute, binding limit on consumption.

   2012, Frank Trentmann, The Oxford Handbook of the History of Consumption, OUP, page 35