Autore: Tsoulfidis, Lefteris
Titolo: Public Debt and J.S. Mill's Conjecture: A Note
Periodico: History of economic thought and policy
Anno: 2013 - Fascicolo: 2 - Pagina iniziale: 93 - Pagina finale: 102

Classical 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.

SICI: 2240-9971(2013)2<93:PDAJMC>2.0.ZU;2-C
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