Public Debt as a Form of Public Finance - Overcoming a Category Mistake and its Vices (Paperback)

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.

General

Imprint:	Cambridge UniversityPress
Country of origin:	United Kingdom
Series:	Elements in Austrian Economics
Release date:	May 2019
Authors:	Richard E. Wagner
Dimensions:	152 x 229 x 5mm (L x W x T)
Format:	Paperback - Trade
Pages:	75
ISBN-13:	978-1-108-73589-6
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Finance & accounting > Finance > Public finance > General Books > Money & Finance > Public finance > General
LSN:	1-108-73589-4
Barcode:	9781108735896

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