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:	2011-02-02
Authors:	Tsoulfidis, Lefteris
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Classical Εconomists \| Public Debt \| J.S. Mill \| Ricardian Equivalence

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	B12 - Classical ; B50 - Current Heterodox Approaches. General ; H63 - Debt; Debt Management ; N43 - Europe: Pre-1913
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011258584