Public Debt and J.S. Mill’s Conjecture: A Note
AbstractClassical economists - mainly Smith, Ricardo and J.S. Mill - abhorred public debts because of their interference with capital accumulation. J.S. Mill in particular envisaged that a rising public debt leads to higher interest rates and falling real wages, a combination which may be consistent with a mildly increasing trend in the profit rate.
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Volume (Year): 2013/2 (2013)
Issue (Month): 2 ()
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Other versions of this item:
- Lefteris Tsoulfidis, 2012. "Public Debt and J.S. Mill’s Conjecture: A Note," Discussion Paper Series 2012_03, Department of Economics, University of Macedonia, revised Feb 2012.
- Tsoulfidis, Lefteris, 2011. "Public Debt and J.S. Mill’s Conjecture: A Note," MPRA Paper 44777, University Library of Munich, Germany, revised 04 Mar 2013.
- B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
- B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
- B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
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3451399, Harvard University Department of Economics.
- Buchanan, James M, 1976. "Barro on the Ricardian Equivalence Theorem," Journal of Political Economy, University of Chicago Press, vol. 84(2), pages 337-42, April.
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