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Making dollars and sense of the U.S. government debt

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  • Paul Davidson

Abstract

This paper explain why, given Keynes's General Theory, worries over the size of the government's national debt per se are foolish. It is more important to educate politicians and the public that government fiscal policy should be designed to make sure that aggregate market demand will produce sufficient profits so that entrepreneurs will hire all domestic workers willing and able to work. Empirical evidence is provided to demonstrate the correctness of this concept of fiscal policy of the balancing wheel for full employment effective demand.

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Bibliographic Info

Article provided by M.E. Sharpe, Inc. in its journal Journal of Post Keynesian Economics.

Volume (Year): 32 (2010)
Issue (Month): 4 (July)
Pages: 661-666

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Handle: RePEc:mes:postke:v:32:y:2010:i:4:p:661-666

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=109348

Related research

Keywords: deficits; national debt;

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Cited by:
  1. Soon Ryoo & Peter Skott, 2011. "Public debt and full employment in a stock-flow consistent model of a corporate economy," UMASS Amherst Economics Working Papers 2011-26, University of Massachusetts Amherst, Department of Economics.

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