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Sir James Steuart on the Public Debt

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  • Walter F. Stettner

Abstract

I. The British public debt in the eighteenth century and contemporary opinion, 451. — Steuart in the literature, 452. — II. Steuart's views on the public debt: public vs. private debt, 454; public debt and circulation, 455; public credit as the balance wheel, 456; comparison with taxes, 457; social effects, 458; repayment, 459; debt limits, 462. — III. British and French credit in the eighteenth century; deterioration of French credit, 466; influence of form of government, 467; public confidence, 467; narrowness of the market, 468; burdensome taxation, 468; the sinking fund, 469; interest rates, 471; qualifications, 471. — IV. The "evolutionist approach," 472. — V. Conclusion: Steuart's position, 475.

Suggested Citation

  • Walter F. Stettner, 1945. "Sir James Steuart on the Public Debt," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 59(3), pages 451-476.
    • Handle: RePEc:oup:qjecon:v:59:y:1945:i:3:p:451-476.
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    File URL: http://hdl.handle.net/10.2307/1884574
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    Cited by:

    1. Madarász, Aladár, 2012. "Adósság, pénz és szabadság [Taxation, money and freedom]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 457-507.
    2. Hagemann, Harald, 2024. "Émigré Economists in America: Their Impact and Their Experiences," SocArXiv c5v97, Center for Open Science.

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