Public Debt
An Illusion of Democratic Political Economy
Business & Finance, Economics, Public Finance, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy
| Author: | Giuseppe Eusepi, Richard E. Wagner | ISBN: | 9781786438041 |
| Publisher: | Edward Elgar Publishing | Publication: | June 30, 2017 |
| Imprint: | Language: | English |
| Author: | Giuseppe Eusepi, Richard E. Wagner |
| ISBN: | 9781786438041 |
| Publisher: | Edward Elgar Publishing |
| Publication: | June 30, 2017 |
| Imprint: | |
| Language: | English |
Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.
Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.
