Public Debt as a Form of Public Finance

Public Debt as a Form of Public Finance

Overcoming a Category Mistake and its Vices

Wagner, Richard E. (George Mason University, Virginia)

Cambridge University Press






15 a 20 dias

Democracies can't truly be indebted. The language of public debt is an ideological language, 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.
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.
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