Public Debt

Giuseppe Eusepi and Richard E. Wagner

in Books from Edward Elgar Publishing

Abstract: Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
ISBN: 9781786438034
References: Add references at CitEc
Citations: View citations in EconPapers (5)

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Chapters in this book:

Ch 1 Macroeconomics, fiscal policy and public debt: conflating myth and reality , pp 1-29

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Ch 2 Political economy and the supply of macro guidance , pp 30-56

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Ch 3 Engines, ecologies and economic systems , pp 57-83

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Ch 4 Budgeting and public debt within a system of cooperative democracy , pp 84-110

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Ch 5 Public debt within systems of monopolistic democracy , pp 111-141

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Ch 6 ‘Monstrous moral hybrids’ and the corrupting quality of public debt , pp 142-164

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