Public Debt: My Dissent from “Keynesian” Theories

When a governmental crisis subsides, citizens are apt to wonder whether all the deficit spending is going to cost something. This situation is the subject of wildly differing views. Which view appears to be most nearly right? The Keynesian view that public debt serves to pull up employment, thus red...

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Bibliographic Details
Main Author: Edmund Phelps
Format: Article
Language:English
Published: Elsevier 2022-01-01
Series:Journal of Government and Economics
Subjects:
Online Access:http://www.sciencedirect.com/science/article/pii/S2667319322000015