Isbn: 9781108735896 - public debt as a form of public finance: overcoming a category mistake and its vices (cambridge elements in austrian economics) (4 Ergebnisse)

Zustand: New. In English.

Paperback. Zustand: Brand New. 75 pages. 8.75x6.00x0.25 inches. In Stock.

Zustand: New.

Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - 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.…