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The European Union's debt question: A conceptional viewpoint

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  • Charles Blankart

Abstract

The state can be conceived as an organization to protect personal freedom and to provide public goods. Consequently, we expect a constitution to consist of two different sets of rules; rules on personal freedom and rules for making collective decisions on public goods (mostly budgetary rules). The constitution of the European Union as laid down in the treaty of Maastricht (1992) provides both types of rules, but the emphasis is mainly on the former rules. This paper investigates budgetary rules, in particular the welfare economic logic of deficit spending. Copyright Kluwer Academic Publishers 1996

Suggested Citation

  • Charles Blankart, 1996. "The European Union's debt question: A conceptional viewpoint," Constitutional Political Economy, Springer, vol. 7(4), pages 257-265, December.
    • Handle: RePEc:kap:copoec:v:7:y:1996:i:4:p:257-265
    DOI: 10.1007/BF00119266
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    References listed on IDEAS

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    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Roubini, Nouriel & Sachs, Jeffrey D., 1989. "Political and economic determinants of budget deficits in the industrial democracies," European Economic Review, Elsevier, vol. 33(5), pages 903-933, May.
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    Cited by:

    1. Charles B. Blankart & Christian Kirchner, 2003. "The Deadlock of the EU Budget: An Economic Analysis of Ways In and Ways Out," CESifo Working Paper Series 989, CESifo.
    2. Colombatto Enrico, 1998. "The Birth and Failure of the EMU Project," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 8(2-3), pages 219-238, June.

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    More about this item

    Keywords

    H2; H6;

    JEL classification:

    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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