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The Economic Limit and Economic Burden of An Internally Held National Debt

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  • David McC. Wright

Abstract

Nature of the problem, 116. — The fiscal and institutional limits: avoidance of price inflation, 117; statutory provisions, 118. — The immediate real burden, 119. — The financial burden, 119. — Tax friction, 120. — Government spending and the growth of national money income, 121. — The case where government spending and deficit financing merely offset hoarding: "dead weight" spending, 123; spending for public works, 126. — Increasing difficulty in making the necessary injection, 128. — Conclusions, 129.

Suggested Citation

  • David McC. Wright, 1940. "The Economic Limit and Economic Burden of An Internally Held National Debt," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 55(1), pages 116-129.
    • Handle: RePEc:oup:qjecon:v:55:y:1940:i:1:p:116-129.
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    File URL: http://hdl.handle.net/10.2307/1881669
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    Cited by:

    1. Donald R. Stabile & Andrew F. Kozak, 2012. "Markets, Planning and the Moral Economy," Books, Edward Elgar Publishing, number 14979.

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