Public debt as a form of public finance: overcoming a category mistake and its vices
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 lende...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge
Cambridge University Press
2019
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| Schriftenreihe: | Cambridge elements. Elements in Austrian economics
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 UBG01 Volltext |
| Zusammenfassung: | 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 |
| Beschreibung: | 1 Online-Ressource Illustrationen |
| ISBN: | 9781108696050 |
| DOI: | 10.1017/9781108696050 |
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| author | Wagner, Richard E. 1941- |
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| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1017/9781108696050 |
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| indexdate | 2024-07-10T08:21:53Z |
| institution | BVB |
| isbn | 9781108696050 |
| language | English |
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| spelling | Wagner, Richard E. 1941- Verfasser (DE-588)124331424 aut Public debt as a form of public finance overcoming a category mistake and its vices Richard E. Wagner Cambridge Cambridge University Press 2019 1 Online-Ressource Illustrationen txt rdacontent c rdamedia cr rdacarrier Cambridge elements. Elements in Austrian economics 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 Debts, Public Finance, Public Electronic books Print version Druck-Ausgabe, hardback 1108735894 Wagner, Richard E. Public debt as a form of public finance Cambridge : Cambridge University Press, 2019 9781108735896 Erscheint auch als Druck-Ausgabe, Paperback 978-1-108-73589-6 https://doi.org/10.1017/9781108696050 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Wagner, Richard E. 1941- Public debt as a form of public finance overcoming a category mistake and its vices |
| title | Public debt as a form of public finance overcoming a category mistake and its vices |
| title_auth | Public debt as a form of public finance overcoming a category mistake and its vices |
| title_exact_search | Public debt as a form of public finance overcoming a category mistake and its vices |
| title_full | Public debt as a form of public finance overcoming a category mistake and its vices Richard E. Wagner |
| title_fullStr | Public debt as a form of public finance overcoming a category mistake and its vices Richard E. Wagner |
| title_full_unstemmed | Public debt as a form of public finance overcoming a category mistake and its vices Richard E. Wagner |
| title_short | Public debt as a form of public finance |
| title_sort | public debt as a form of public finance overcoming a category mistake and its vices |
| title_sub | overcoming a category mistake and its vices |
| url | https://doi.org/10.1017/9781108696050 |
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