{"product_id":"public-debt-as-a-form-of-public-finance-9781108735896","title":"Public Debt as a Form of Public Finance","description":"\u003cp\u003e • Author(s): Richard E. Wagner\u003cbr\u003e • Publisher: Cambridge University Press\u003cbr\u003e • Publisher Imprint: Cambridge University Press\u003cbr\u003e • BISAC: Economics - General\u003c\/p\u003e\u003cp\u003eEconomists 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.\u003c\/p\u003e","brand":"Atlantic Books","offers":[{"title":"Paperback","offer_id":46457743802519,"sku":"9781108735896","price":2289.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9781108735896.webp?v=1769182993","url":"https:\/\/atlanticbooks.com\/products\/public-debt-as-a-form-of-public-finance-9781108735896","provider":"Atlantic Books","version":"1.0","type":"link"}