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Appendix: Two Faces of Public Debt

In: Saving and Investment in the Twenty-First Century

Author

Listed:
  • Carl Christian von Weizsäcker

    (Max Planck Institute for Research on Collective Goods)

  • Hagen M. Krämer

    (Karlsruhe University of Applied Sciences)

Abstract

Firstly, GermanyGermany has a highly developed welfare stateWelfare state. Secondly, the free exchange of goods, all across EuropeEurope and indeed all around the world, is a key element of the German economic system. Thirdly, to the acclaim of voters, German policy is committed to the goal of price stability. Is the debt brakeDebt brake compatible with these three guiding principles of German economic policyEconomic policy? I doubt it. In the German discussion, public debt is only seen in a negative light—wrongly, as I will show.

Suggested Citation

  • Carl Christian von Weizsäcker & Hagen M. Krämer, 2021. "Appendix: Two Faces of Public Debt," Springer Books, in: Saving and Investment in the Twenty-First Century, chapter 0, pages 321-326, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75031-2_14
    DOI: 10.1007/978-3-030-75031-2_14
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