Public Principles of Public Debt

E438122

Public Principles of Public Debt is a seminal economic treatise by James M. Buchanan that challenges conventional views on government borrowing and its intergenerational implications.

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Public Principles of Public Debt canonical 1

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Predicate Object
instanceOf book
economic treatise
aimsTo clarify the real economic meaning of public debt
evaluate the long-run consequences of government borrowing
associatedWith James M. Buchanan’s early contributions to public choice and public finance
author James M. Buchanan NERFINISHED
contributesTo theory of public debt incidence
understanding of intergenerational fiscal transfers
countryOfOrigin United States of America
surface form: United States
criticizes the claim that public debt cannot burden future generations
the view that public debt is merely a matter of internal bookkeeping
fieldOfWork economics
public economics
genre academic literature
non-fiction
hasKeyConcept distributional effects of public borrowing
equivalence between tax and debt finance (under certain conditions)
intertemporal budget constraint
political incentives in debt accumulation
taxpayer burden
hasPerspective public debt can impose real burdens on future generations
public debt should be analyzed similarly to private debt for individuals
taxpayers ultimately bear the cost of government borrowing
hasReception considered a seminal work in the theory of public debt
hasTheoreticalApproach microeconomic analysis of public debt
normative analysis of fiscal policy
hasViewOn balanced budget norms
role of political processes in determining debt levels
tax versus debt financing of government expenditure
influenced debates on fiscal responsibility
later work in public choice theory
influencedBy classical public finance theory
language English
mainSubject fiscal policy
intergenerational equity
public debt
public finance
notableFor analysis of intergenerational implications of public debt
challenging conventional views on government borrowing
relatedWork The Calculus of Consent NERFINISHED
The Public Finances NERFINISHED
targetAudience economists
policy makers concerned with fiscal policy
public finance scholars

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James M. Buchanan notableWork Public Principles of Public Debt