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Public Debt as a Form of Public Finance: Overcoming a Category Mistake and Its Vices.

Public Debt as a Form of Public Finance: Overcoming a Category Mistake and Its Vices. R.E.ワグナー著 財政の形態としての公債

・ISBN 978-1-108-73589-6 paper GB£ 18.00

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電子版あり 大学・学術機関向け電子ブック(eBook)ISBN 978-1-108-69605-0

著者・編者Wagner, Richard E.,
シリーズElements in Austrian Economics
出版社(Cambridge U. Pr., UK)
出版年月2019
ページ数75 pp.
言語ENG
ニュース番号<651-474 651-P1074>

解説

Economists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.