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Public Principles of Public Debt: A Defense and Restatement

By James M. Buchanan
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Table of Contents
  1. Foreword
  2. Ch. 1, The Economists and Vulgar Opinion
  3. Ch. 2, The New Orthodoxy
  4. Ch. 3, The Methodology of Debt Theory
  5. Ch. 4, Concerning Future Generations
  6. Ch. 5, The Analogy: True or False
  7. Ch. 6, Internal and External Public Loans
  8. Ch. 7, Consumption Spending, the Rate of Interest, Relative and Absolute Prices
  9. Ch. 8, A Review of Pre-Keynesian Debt Theory
  10. Ch. 9, Public Debt and Depression
  11. Ch. 10, War Borrowing
  12. Ch. 11, Public Debt and Inflation
  13. Ch. 12, When Should Government Borrow
  14. Ch. 13, Should Public Debt Be Retired
  15. Ch. 14, Debt Retirement and Economic Stabilization
  16. Appendix, A Suggested Conceptual Revaluation of the National Debt
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Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about the nature of public debt. One view is that there is no burden of the public debt as long as the purchasers of U.S. debt are fellow Americans. In that case, the argument goes, we owe it to ourselves. Drawing on the work of James Buchanan, particularly his book Public Principles of Public Debt: A Defense and Restatement, Boudreaux argues that there is a burden of the debt and it is borne by future taxpayers. Boud...
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