Original paper
James Buchanan's Public Debt Theory: A Rational Reconstruction
Abstract
James Buchanan’s Public Principles of Public Debt is universally associated with the claim that debt allows the cost of public activity to be shifted onto future generations. This claim treats a generation as a unitary and acting entity. While such treatment is standard fare for macro theorists who work with representative agents and societal averages in place of the individuals who constitute a society, such treatment conflicts with Buchanan’s...
Paper Details
Title
James Buchanan's Public Debt Theory: A Rational Reconstruction
Published Date
Jan 1, 2013
Journal
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Notes
History