A Trilogy of Debt: The Emancipatory Virtue of Public Debt in Saint-Simonian, Liberal and Socialist Discourses in Nineteenth Century France (1825\textendash1852)

Clément Coste ()
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Clément Coste: TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique

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Abstract: This article compares public debt as it is concived by Saint-Simonians, Liberal economists and Socialists. I endeavour to analyse public debt through its capacity to modify or preserve social order. Armed with financial science, the Saint-Simonians wished to use public borrowing as a means for enabling the development of the industriels. Liberal economists condemned the development of public borrowing with advocating teachings of political economy. Against these two theories of public debt, the 1840s Socialists proposed an analysis based on social classes and concluded that public borrowing was unable to structurally modify the social antagonism of the nineteenth century society.

Keywords: conversion of annuities; debt redemption found; liberal economists; Saint-Simonism; socialists (search for similar items in EconPapers)
Date: 2021
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Published in European Journal of the History of Economic Thought, 2021, 28 (1), pp.1-30. ⟨10.1080/09672567.2020.1746375⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02555807

DOI: 10.1080/09672567.2020.1746375

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