Public debt and Covid-19

Jacques Fontanel ()
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Jacques Fontanel: CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UGA - Université Grenoble Alpes - IEPG - Sciences Po Grenoble-UGA - Institut d'études politiques de Grenoble - UGA - Université Grenoble Alpes

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Abstract: The morality defined by the political system of the market economy is based on the respect of debt repayment. However, public debt is different and has not to be analysed as a worse management of public resources. Contrary to private agents, State has not, in principle, a limited time horizon and it is possible to repay its debt over long periods by "rolling over its debt". Moreover, public debt helps to regulate the economy in times of crisis. When a Covid-19 arrives, public health becomes the national and international priority and the public debt is a solution to solve both the pandemic and the problems of unemployment, health costs and education gap that it causes. Public debt is an instrument for societal change, with less inequalities, poverty and prercariousness.

Keywords: inequalities; precariouness; Covid-19; pandemic; public debt; Pandémie; dette publique; inégalités; précarité. (search for similar items in EconPapers)
Date: 2021-08
New Economics Papers: this item is included in nep-cwa and nep-isf
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