logo
Supporting your high street Find out how »
Basket Image

Basket

Public Debt as a Form of Public Finance : Overcoming a Category Mistake and its Vices, Paperback / softback Book

Public Debt as a Form of Public Finance : Overcoming a Category Mistake and its Vices Paperback / softback

Part of the Elements in Austrian Economics series

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.

Information

  • Format: Paperback / softback
  • Pages: 75 pages, Worked examples or Exercises; 4 Line drawings, unspecified
  • Publisher: Cambridge University Press
  • Publication Date:
  • Category: Economic theory & philosophy
  • ISBN: 9781108735896

£15.00

£14.45

 
Free Home Delivery

on all orders

 
Pick up orders

from local bookshops

Also in the Elements in Austrian Economics series