Public debt as a form of public finance : overcoming a category mistake and its vices / Richard E. Wagner.
Wagner, Richard E.| Call Number | 336.34 |
| Author | Wagner, Richard E., author. |
| Title | Public debt as a form of public finance : overcoming a category mistake and its vices / Richard E. Wagner. |
| Physical Description | 1 online resource (60 pages) : digital, PDF file(s). |
| Series | Cambridge elements. Elements in Austrian economics |
| Notes | Title from publisher's bibliographic system (viewed on 22 Mar 2019). |
| Summary | 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. |
| Subject | DEBTS, PUBLIC. FINANCE, PUBLIC. |
| Multimedia |
Total Ratings:
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| Summary | 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. |
| Notes | Title from publisher's bibliographic system (viewed on 22 Mar 2019). |
| Subject | DEBTS, PUBLIC. FINANCE, PUBLIC. |
| Multimedia |