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Political economy and the supply of macro guidance

In: Public Debt

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Abstract

This chapter explores just who it is that supplies the macro guidance that is envisioned in the various macro theories. The answer to this question is of great significance for the political economy of public debt and fiscal policy. Where the two extreme points of answer regarding this question are some macro czar as an analytical convenience and ‘the people’ as a democratic platitude, this chapter takes a Machiavellian-inspired tack whereby the few dominate the many.

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  • ., 2017. "Political economy and the supply of macro guidance," Chapters, in: Public Debt, chapter 2, pages 30-56, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17704_2
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    Economics and Finance;

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