Appendix: Two Faces of Public Debt

Carl Christian von Weizsäcker () and Hagen Krämer
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Carl Christian von Weizsäcker: Max Planck Institute for Research on Collective Goods

Chapter Chapter 14 in Saving and Investment in the Twenty-First Century, 2021, pp 321-326 from Springer

Abstract: Abstract Firstly, GermanyGermany has a highly developed welfare stateWelfare state. Secondly, the free exchange of goods, all across EuropeEurope and indeed all around the world, is a key element of the German economic system. Thirdly, to the acclaim of voters, German policy is committed to the goal of price stability. Is the debt brakeDebt brake compatible with these three guiding principles of German economic policyEconomic policy? I doubt it. In the German discussion, public debt is only seen in a negative light—wrongly, as I will show.

Date: 2021
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DOI: 10.1007/978-3-030-75031-2_14

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