Budget amendment offers toxin, not tonic

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Chapter 15 in Reforming Capitalism for the Common Good, 2022, pp 208-209 from Edward Elgar Publishing

Abstract: This chapter summarizes - from a Minskyan perspective - several economic and political dangers of a proposed balanced budget amendment to the US Constitution. Such an amendment would prohibit sensible fiscal policy action such as allowing deficits to adjust with economic conditions. It would also impede establishment of federal capital budgeting–and distract from robust public discussion of government's role in addressing socioeconomic challenges.

Keywords: Economics and Finance; Politics and Public Policy Sustainable Development Goals (search for similar items in EconPapers)
Date: 2022
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