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.
Not yet reviewed
Be the first to review
Review was not posted due to profanity×
- Date Published: May 2019
- format: Paperback
- isbn: 9781108735896
- dimensions: 152 x 229 x 5 mm
- weight: 0.3kg
- contains: 4 b/w illus.
- availability: Available
Table of Contents
1. Monarchies, democracies, and indebtedness
2. Political presuppositions and the theory of public finance
3. Taxes as prices – a useful but corruptible simile
4. From public pricing to fiscal policy – the Keynesian detour
5. Ecologies, not machines – analytical failures of Macro theories
6. Calculation and coordination within a political economy
7. Public debt, systemic lying, and the corruption of contract
8. From liberal to feudal democracy – Henry Maine reversed
9. Liberalism and Collectivism – an easily toxic mix.
Sorry, this resource is locked
Please register or sign in to request access. If you are having problems accessing these resources please email email@example.comRegister Sign in
You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner www.ebooks.com. Please see the permission section of the www.ebooks.com catalogue page for details of the print & copy limits on our eBooks.Continue ×