Public Debt as a Form of Public Finance : Overcoming a Category Mistake and its Vices Paperback / softback
by Richard E. (George Mason University, Virginia) Wagner
Part of the Elements in Austrian Economics series
Paperback / softback
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
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Out of stock
- Format:Paperback / softback
- Pages:75 pages, Worked examples or Exercises; 4 Line drawings, unspecified
- Publisher:Cambridge University Press
- Publication Date:30/05/2019
- Category:
- ISBN:9781108735896
Information
-
Out of stock
- Format:Paperback / softback
- Pages:75 pages, Worked examples or Exercises; 4 Line drawings, unspecified
- Publisher:Cambridge University Press
- Publication Date:30/05/2019
- Category:
- ISBN:9781108735896
