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 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.

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Year of publication:	2013
Authors:	Tsoulfidis, Lefteris
Published in:	HISTORY OF ECONOMIC THOUGHT AND POLICY. - FrancoAngeli Editore, ISSN 2240-9971. - Vol. 2013/2.2013, 2, 5, p. 93-102
Publisher:	FrancoAngeli Editore

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Extent:	text/html
Type of publication:	Article
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/10010876311