Public Debt and J.S. Mill’s Conjecture: A Note

Classical economists mainly Smith, Ricardo and J.S. Mill abhorred public debts because of their interference with capital accumulation. J.S. Mill in particular argued 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.

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Year of publication:	2012-02
Authors:	Tsoulfidis, Lefteris
Subject:	Classical economists \| Public Debt \| J.S. Mill \| Ricardian Equivalence

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Series:	Discussion Paper Series.
Type of publication:	Book / Working Paper
Classification:	B12 - Classical ; B13 - Neoclassical through 1925 ; B14 - Socialist; Marxist ; B16 - History of Economic Thought: Quantitative and Mathematical ; H50 - National Government Expenditures and Related Policies. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010838302