Public debt as a form of public finance : overcoming a category mistake and its vices /
Richard E. Wagner.
Bok Engelsk 2019 · Electronic books.
| Omfang | 1 online resource (60 pages) : : digital, PDF file(s).
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| Utgave | 1st ed.
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| Opplysninger | Title from publisher's bibliographic system (viewed on 22 Mar 2019).. - 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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| Emner | |
| Sjanger | |
| Dewey | |
| ISBN | 1-108-69605-8
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