THE NATIONAL DEBT1

J. de V. Graaff

South African Journal of Economics, 1969, vol. 37, issue 3, 179-186

Abstract: To finance its expenditure, the state can tax, borrow and print money. Each of these methods has a different effect on private spending, so the combination selected should depend on the pressure of demand upon resources. It should depend too on the pattern of private spending the state wants to encourage, and its division between consumption and investment.

Date: 1969
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