Deficits Debt And Democracy
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Author |
: Richard E. Wagner |
Publisher |
: Edward Elgar Publishing |
Total Pages |
: 209 |
Release |
: 2012-01-01 |
ISBN-10 |
: 9780857934604 |
ISBN-13 |
: 0857934600 |
Rating |
: 4/5 (04 Downloads) |
Synopsis Deficits, Debt, and Democracy by : Richard E. Wagner
This timely book reveals that the budget deficits and accumulating debts that plague modern democracies reflect a clash between two rationalities of governance: one of private property and one of common property. The clashing of these rationalities at various places in society creates forms of societal tectonics that play out through budgeting. The book demonstrates that while this clash is an inherent feature of democratic political economy, it can nonetheless be limited through embracing once again a constitution of liberty. Not all commons settings have tragic outcomes, of course, but tragic outcomes loom large in democratic processes because they entail conflict between two very different forms of substantive rationality; the political and market rationalities. These are both orders that contain interactions among participants, but the institutional frameworks that govern those interactions differ, generating democratic budgetary tragedies. Those tragedies, moreover, are inherent in the conflict between the different rationalities and so cannot be eliminated. They can, as this book argues, be reduced by restoring a constitution of liberty in place of the constitution of control that has taken shape throughout the west over the past century. Economists interested in public finance, public policy and political economy along with scholars of political science, public administration, law and political philosophy will find this book intriguing.
Author |
: Eisaku Ide |
Publisher |
: Routledge |
Total Pages |
: 286 |
Release |
: 2015-03-24 |
ISBN-10 |
: 9781317575870 |
ISBN-13 |
: 1317575873 |
Rating |
: 4/5 (70 Downloads) |
Synopsis Deficits and Debt in Industrialized Democracies by : Eisaku Ide
Since the global financial crisis, government debt has soared globally by 40 percent and now exceeds an astonishing $100 trillion. Not all countries, though, have fared the same. Indeed, even prior to the financial crisis, the fiscal fates of countries have been diverging, despite predictions that pressures from economic globalization push countries toward more convergent fiscally conservative policies. Featuring the work of an international interdisciplinary team of scholars, this volume explains patterns of fiscal performance (persistent patterns of budget deficits and government debt) from the 1970s to the present across seven countries – France, Italy, Germany, Japan, South Korea, Sweden, and the United States. Employing a comparative case study approach, seldom employed in studies of fiscal performance, contributions illuminate the complex causal factors often overlooked by quantitative studies and advances our theoretical understanding of fiscal performance. Among other things, the cases highlight the role of taxpayer consent, tax structure, the welfare state, organization of interests, and labor and financial markets in shaping fiscal outcomes. A necessary resource to understand a broader array of factors that shape fiscal outcomes in specific national contexts, this book will reinvigorate the study of fiscal performance.
Author |
: Giuseppe Eusepi |
Publisher |
: Edward Elgar Publishing |
Total Pages |
: 285 |
Release |
: 2017-06-30 |
ISBN-10 |
: 9781786438041 |
ISBN-13 |
: 1786438046 |
Rating |
: 4/5 (41 Downloads) |
Synopsis Public Debt by : Giuseppe Eusepi
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.
Author |
: Mary Mellor |
Publisher |
: Pluto Press (UK) |
Total Pages |
: 0 |
Release |
: 2016 |
ISBN-10 |
: 0745335551 |
ISBN-13 |
: 9780745335551 |
Rating |
: 4/5 (51 Downloads) |
Synopsis Debt Or Democracy by : Mary Mellor
A clear case for the common ownership of money as a solution to the financial crisis
Author |
: Giuseppe Eusepi |
Publisher |
: Edward Elgar Publishing |
Total Pages |
: 217 |
Release |
: 2018 |
ISBN-10 |
: 9781788117937 |
ISBN-13 |
: 178811793X |
Rating |
: 4/5 (37 Downloads) |
Synopsis Debt Default and Democracy by : Giuseppe Eusepi
The original chapters in this book connect the microeconomic and macroeconomic approaches to public debt. Through their thought-provoking views, leading scholars offer insights into the incentives that individuals and governments may have in resorting to public debt, thereby promoting a clearer understanding of its economic consequences.
Author |
: Alberto Alesina |
Publisher |
: |
Total Pages |
: 38 |
Release |
: 1987 |
ISBN-10 |
: OCLC:1293332434 |
ISBN-13 |
: |
Rating |
: 4/5 (34 Downloads) |
Synopsis A positive theory of fiscal deficits and government debt in a democracy by : Alberto Alesina
Author |
: Stephanie Kelton |
Publisher |
: PublicAffairs |
Total Pages |
: 311 |
Release |
: 2020-06-09 |
ISBN-10 |
: 9781541736207 |
ISBN-13 |
: 1541736206 |
Rating |
: 4/5 (07 Downloads) |
Synopsis The Deficit Myth by : Stephanie Kelton
A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Author |
: Barbara Stallings |
Publisher |
: Routledge |
Total Pages |
: 237 |
Release |
: 2019-04-12 |
ISBN-10 |
: 9780429722042 |
ISBN-13 |
: 0429722044 |
Rating |
: 4/5 (42 Downloads) |
Synopsis Debt And Democracy In Latin America by : Barbara Stallings
This book investigates the two-way relationship between debt and democracy in Latin America. It examines the evidence about how regime type influenced the choice of policy to deal with foreign creditors and related economic issues.
Author |
: Richard M. Salsman |
Publisher |
: Edward Elgar Publishing |
Total Pages |
: 337 |
Release |
: 2017-02-24 |
ISBN-10 |
: 9781785363382 |
ISBN-13 |
: 1785363387 |
Rating |
: 4/5 (82 Downloads) |
Synopsis The Political Economy of Public Debt by : Richard M. Salsman
How have the most influential political economists of the past three centuries theorized about sovereign borrowing and shaped its now widespread use? That important question receives a comprehensive answer in this original work, featuring careful textual analysis and illuminating exhibits of public debt empirics since 1700. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists alike.
Author |
: DENNIS S. IPPOLITO |
Publisher |
: Routledge |
Total Pages |
: 224 |
Release |
: 2022-02-23 |
ISBN-10 |
: 0367765063 |
ISBN-13 |
: 9780367765064 |
Rating |
: 4/5 (63 Downloads) |
Synopsis Deficit Politics in the United States by : DENNIS S. IPPOLITO
From the clashes between Federalists and Republicans in the 1790s until today, partisan battles over taxing, spending, and public debt have shaped American political development. These battles were formerly constrained by fiscal norms that mandated balanced budgets and low debt. In his Farewell Address, President George Washington counseled the nation to cherish public credit by using it as sparingly as possible. In the 1980s, however, tax cuts and spending increases created large structural deficits and much higher debt levels. With only a brief interruption in the late 1990s, deficit politics has been a mainstay ever since. Over this period, the Republican Party has passed large tax cuts but failed to retrench the large entitlement programs that continue to raise spending. Likewise, the Democratic Party has expanded the domestic role of government but has abandoned the broad-based taxation it supported in the 1990s. Funding their domestic agenda with matching revenues is now as unappealing for Democrats as entitlement cutbacks are for Republicans, contributing to the current stalemate of Republican tax policy, Democratic spending policy, and soaring deficits and debt. The economic risks this entails are serious, yet an end to the era of deficit politics is nowhere in sight.