Political economy and the supply of macro guidance

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Chapter 2 in Public Debt, 2017, pp 30-56 from Edward Elgar Publishing

Abstract: This chapter explores just who it is that supplies the macro guidance that is envisioned in the various macro theories. The answer to this question is of great significance for the political economy of public debt and fiscal policy. Where the two extreme points of answer regarding this question are some macro czar as an analytical convenience and ‘the people’ as a democratic platitude, this chapter takes a Machiavellian-inspired tack whereby the few dominate the many.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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