Eichengreen, Barry
In Defense of Public Debt
- ISBN 13:
- 9780197577899
- author:
- Eichengreen, Barry
- format:
- Hardback
- publisher:
- Oxford University Press Inc
- language:
- English
- Publication Year:
- 2022
- Pages:
- 320
- Dimensions:
- 24.2 x 16.1 x 2.6 centimetres (0
- Genre:
- Business, Economic History, Business,
- Condition:
- New
- Availability:
- Item usually sent within 4 working days
Description
A sharp rejoinder to the notion that public debt is inherently problematic, In Defense of Public Debt explores the entire history of state-issued public debt, demonstrating its usefulness in addressing emergencies and funding essential public goods. The authors argue that the ability of governments to issue debt has played a critical role in state building and survival, as well as contributing to modern economic growth through private financial markets. By examining two millennia of public debt experience, they identify factors behind rising public debts and circumstances under which high debts are successfully stabilized. This comprehensive analysis offers a nuanced perspective on the role of public debt in addressing emergencies and funding essential services, challenging prevailing views on its dangers.
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