Deficits Debt And Democracy

Author : Richard E. Wagner
Publisher : Edward Elgar Publishing
Page : 209 pages
File Size : 55,9 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780857934604

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Deficits, Debt, and Democracy by Richard E. Wagner Pdf

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,Gene Park
Publisher : Routledge
Page : 286 pages
File Size : 53,7 Mb
Release : 2015-03-24
Category : Political Science
ISBN : 9781317575870

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Deficits and Debt in Industrialized Democracies by Eisaku Ide,Gene Park Pdf

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,Richard E. Wagner
Publisher : Edward Elgar Publishing
Page : 192 pages
File Size : 50,7 Mb
Release : 2017-06-30
Category : Business & Economics
ISBN : 9781786438041

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Public Debt by Giuseppe Eusepi,Richard E. Wagner Pdf

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 : Barbara Stallings
Publisher : Routledge
Page : 248 pages
File Size : 41,6 Mb
Release : 2019-04-12
Category : Political Science
ISBN : 9780429722042

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Debt And Democracy In Latin America by Barbara Stallings Pdf

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 : Giuseppe Eusepi,Richard E. Wagner
Publisher : Edward Elgar Publishing
Page : 224 pages
File Size : 45,5 Mb
Release : 2018
Category : Electronic
ISBN : 9781788117937

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Debt Default and Democracy by Giuseppe Eusepi,Richard E. Wagner Pdf

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 : Mary Mellor
Publisher : Pluto Press (UK)
Page : 0 pages
File Size : 42,7 Mb
Release : 2016
Category : Business & Economics
ISBN : 0745335543

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Debt Or Democracy by Mary Mellor Pdf

"Debt or Democracy explodes the myths behind modern money. It challenges the neoliberal obsession with public debt and deficit, arguing that a much more serious problem is the privatised creation of money through bank debt that leads to boom and bust. Far from being a burden on the taxpayer, Mary Mellor argues that public money and public expenditure is necessary for economic well-being. Arguing that money is a public resource that should be under democratic control, Debt or Democracy directly challenges conventional economic thinking and presents a radical alternative for socially just and ecologically sustainable provisioning."--Publisher's Web site.

Author : James M. Buchanan,Richard E. Wagner
Publisher : Washington, D.C. : American Enterprise Institute for Public Policy Research
Page : 88 pages
File Size : 54,6 Mb
Release : 1967
Category : Business & Economics
ISBN : STANFORD:36105129755448

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Public Debt in a Democratic Society by James M. Buchanan,Richard E. Wagner Pdf

Author : OECD,Inter-American Development Bank
Publisher : OECD Publishing
Page : 217 pages
File Size : 53,9 Mb
Release : 1998-03-09
Category : Electronic
ISBN : 9789264162501

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Development Centre Seminars Democracy, Decentralisation and Deficits in Latin America by OECD,Inter-American Development Bank Pdf

What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount ...

Author : Richard M. Salsman
Publisher : Edward Elgar Publishing
Page : 336 pages
File Size : 45,6 Mb
Release : 2017-02-24
Category : Electronic
ISBN : 9781785363382

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The Political Economy of Public Debt by Richard M. Salsman Pdf

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 : James Macgill Buchanan
Publisher : Unknown
Page : 0 pages
File Size : 51,6 Mb
Release : 1977
Category : Electronic
ISBN : OCLC:251569612

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Democracy in deficit by James Macgill Buchanan Pdf

Author : Richard E. Wagner
Publisher : Cambridge University Press
Page : 129 pages
File Size : 42,9 Mb
Release : 2019-05-30
Category : Business & Economics
ISBN : 9781108758338

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Public Debt as a Form of Public Finance by Richard E. Wagner Pdf

Economists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.

Author : Jeffry A. Frieden
Publisher : Princeton University Press
Page : 300 pages
File Size : 44,7 Mb
Release : 1991
Category : Business & Economics
ISBN : 0691003998

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Debt, Development, and Democracy by Jeffry A. Frieden Pdf

In the 1970s and 1980s the countries of Latin America dealt with their similar debt problems in very different ways--ranging from militantly market-oriented approaches to massive state intervention in their economies--while their political systems headed toward either democracy or authoritarianism. Applying the tools of modern political economy to a developing-country context, Jeffry Frieden analyzes the different patterns of national economic and political behavior that arose in Argentina, Brazil, Chile, Mexico, and Venezuela. This book will be useful to those interested in comparative politics, international studies, development studies, and political economy more generally. "Jeffry Frieden weaves together a powerful theoretical framework with comparative case studies of the region's five largest debtor states. The result is the most insightful analysis to date of how the interplay between politics and economics in post-war Latin America set the stage for the dramatic events of the 1980s."--Carol Wise, Center for Politics and Policy, Claremont Graduate School

Author : Istvan Benczes
Publisher : Central European University Press
Page : 245 pages
File Size : 51,8 Mb
Release : 2014-09-01
Category : Business & Economics
ISBN : 9789633860588

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Deficit and Debt in Transition by Istvan Benczes Pdf

The adjustment problems of public finance in countries of Central and Eastern Europe (CEE) are often misunderstood and misinterpreted by western scholars. This book contributes to the bridging of the gap between what is being thought by external observers and what the actual public finance reality is, as described by competent local scholars. Popular political economy research has remained biased towards advanced countries and has neglected developing and transition economies. Publications on CEE countries? public finances seem to be reluctant to apply the conceptual framework of standard political economy to these countries because of the assumption that CEE economies are different from their Western peers. But is this really the case? Are CEE economies so much different that none of the well-known ?Western? political economy concepts or models can be applied to the analysis of fiscal performance in the region? Benczes demonstrates that they can be safely applied in the context of CEE economies as well. He sees no need to develop a separate or unique theory designed for the study and understanding of (one-time) transition economies. ÿ

Author : Cole S. Brembeck
Publisher : Praeger
Page : 200 pages
File Size : 52,7 Mb
Release : 1991-05-30
Category : Business & Economics
ISBN : STANFORD:36105035331672

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Congress, Human Nature, and the Federal Debt by Cole S. Brembeck Pdf

This volume takes a non-economic approach to the issue of the federal deficit. By identifying fiscal problems as merely the visible symptoms of a basic behavioral dynamic common to all people, Cole S. Brembeck undertakes a singular study of how human interests perpetuate the deficit and how, therefore, the deficit issue reflects the nature of the representation in the federal government. Solutions to the worsening deficit crisis can then be explored by shifting the primary focus away from money, budgets, and expenditures and toward people, power, and politics. Fourteen essays discuss different aspects of the human factor in the federal debt by analyzing how members of the U.S. Congress spend public money. After establishing the relationship between money and human behavior (the psychological groundwork of the entire work), attention then turns to the human and political motivations that result in the incurring of debt and how Congress's monetary practices demonstrate the psychology of public spending. A subject that could constitute an attack on Congress receives fresh insight--rather than isolating Congress as a body with a unique propensity for spending, Brembeck acknowledges the relevant force that is a common human motivator. The work aims at redefining the central issue of the debt debate and concludes with proposals that may help to remedy the financial crisis, based on the premise that the federal debt is a human, not a fiscal, problem.

Author : Wolfgang Streeck,Armin Schäfer
Publisher : John Wiley & Sons
Page : 465 pages
File Size : 45,9 Mb
Release : 2013-05-09
Category : Political Science
ISBN : 9780745670089

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Politics in the Age of Austerity by Wolfgang Streeck,Armin Schäfer Pdf

In a world of increasing austerity measures, democratic politics comes under pressure. With the need to consolidate budgets and to accommodate financial markets, the responsiveness of governments to voters declines. However, democracy depends on choice. Citizens must be able to influence the course of government through elections and if a change in government cannot translate into different policies, democracy is incapacitated. Many mature democracies are approaching this situation as they confront fiscal crisis. For almost three decades, OECD countries have - in fits and starts - run deficits and accumulated debt. As a result, an ever smaller part of government revenue is available today for discretionary spending and social investment and whichever party comes into office will find its hands tied by past decisions. The current financial and fiscal crisis has exacerbated the long-term shrinking government discretion; projects for political change have lost credibility. Many citizens are aware of this situation: they turn away from party politics and stay at home on Election Day. With contributions from leading scholars in the forefront of sociology, politics and economics, this timely book will be of great interest to students and scholars throughout the social sciences as well as general readers.