Public Debt as a Form of Public Finance: Overcoming a Category Mistake and its Vices (Elements in Austrian Economics)
By:
Sign Up Now!
Already a Member? Log In
You must be logged into Bookshare to access this title.
Learn about membership options,
or view our freely available titles.
- Synopsis
- 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.
- Copyright:
- 2019
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9781108758338
- Related ISBNs:
- 9781108735896, 9781108735896
- Publisher:
- Cambridge University Press
- Date of Addition:
- 05/21/19
- Copyrighted By:
- Richard E. Wagner
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.