With so much talk about public debt, the so-called debt crisis etc., it is perhaps time to take a close look at the history of the concept; of how public debt was born, on the evolution of its nature and, even more poignantly, of the manner in which economists have interpreted and evaluated its purpose and impact. In this encyclopaedic article Nicholas Theocarakis (colleague, co-author and dear friend) explains. Click here for his paper (which was recently presented as the closing keynote at the 4th ESHET Latin American Conference) and here for a fabulous pdf file offering glimpses of the main texts mentioned.
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