The History of the Political Economy of Public Debt

4th ESHET Latin America Conference, Belo Horizonte – Brazil, 19-21 November 2014

22 Pages Posted: 9 Dec 2014

See all articles by Nicholas J. Theocarakis

Nicholas J. Theocarakis

National and Kapodistrian University of Athens, Faculty of Economics

Date Written: November 21, 2014

Abstract

This paper traces the different attempts to explain the role and the effects of public debt on national economies from the late 17th century to the postwar period of the 20th century. Its main emphasis lies in the treatment of public debt in the mercantilist, classical and post-classical period and ends with Lerner’s concept of functional finance.

Keywords: Public debt, functional finance, Daniel Defoe, Davenant, Adam Smith, David Ricardo, Thomas Robert Malthus, Karl Marx, Jean-Baptiste Say, C.F. Bastable, John Maynard Keynes, Ricardian equivalence, James Buchanan

JEL Classification: B1, B11, B12, B22, B26, E12, H6, H63

Suggested Citation

Theocarakis, Nicholas J., The History of the Political Economy of Public Debt (November 21, 2014). 4th ESHET Latin America Conference, Belo Horizonte – Brazil, 19-21 November 2014, Available at SSRN: https://ssrn.com/abstract=2535293 or http://dx.doi.org/10.2139/ssrn.2535293

Nicholas J. Theocarakis (Contact Author)

National and Kapodistrian University of Athens, Faculty of Economics ( email )

1 Sofokleous Street
Athens, 10559
Greece

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
209
Abstract Views
879
rank
174,729
PlumX Metrics