International indebtedness, interest rates and inflation
The work establishes that international indebtedness, as well as domestic government and corporate indebtedness, tend to degenerate, and then become self-feeding, when interests cannot be paid out of the return on the capital employed but are paid out of new borrowings. Furthermore, such a degenerat...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2013-10-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10745 |