Description: Economists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.
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EAN: 9781108735896
UPC: 9781108735896
ISBN: 9781108735896
MPN: N/A
Book Title: Public Debt as a Form of Public Finance: Overcomin
Item Length: 22.9 cm
Number of Pages: 75 Pages
Publication Name: Public Debt As a Form of Public Finance: Overcoming a Category Mistake and Its Vices
Language: English
Publisher: Cambridge University Press
Item Height: 152 mm
Subject: Economics, Finance
Publication Year: 2019
Type: Textbook
Item Weight: 300 g
Author: Richard E. Wagner
Item Width: 229 mm
Format: Paperback
