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Public Debt

Author

Listed:
  • Giuseppe Eusepi
  • Richard E. Wagner

Abstract

Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Giuseppe Eusepi & Richard E. Wagner, 2017. "Public Debt," Books, Edward Elgar Publishing, number 17704.
    • Handle: RePEc:elg:eebook:17704
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    File URL: https://www.elgaronline.com/view/9781786438034/9781786438034.xml
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    Citations

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    Cited by:

    1. Giuseppe Eusepi, 2020. "From subjectivism to constitutionalism: the intellectual journey of James M. Buchanan through his Italian heroes," Public Choice, Springer, vol. 183(3), pages 273-285, June.
    2. Lotfali AGHELI, 2017. "The nexus between size and efficacy of government: evidence from OPEC," Journal of Economics and Political Economy, KSP Journals, vol. 4(3), pages 275-284, September.
    3. Giuseppe Eusepi, 2021. "Richard M. Salsman, The Political Economy of Public Debt: Three Centuries of Theory and Evidence. Cheltenham, UK, Northampton, MA: Edward Elgar, 2017. Viii + 322 pages. USD 140.00 (hardcover)," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 34(3), pages 419-423, September.
    4. Nicolás Cachanosky & Edward J. Lopez, 2020. "Rediscovering Buchanan’s rediscovery: non-market exchange versus antiseptic allocation," Public Choice, Springer, vol. 183(3), pages 461-477, June.
    5. Richard E. Wagner, 2019. "American Democracy and the Problem of Fiscal Deficits," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 15(2), pages 199-216, December.

    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Economics and Finance;

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