Economics Dictionary of Arguments

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Government debt: Government debt, also known as public debt, refers to the accumulated financial obligations a government owes to creditors, individuals, or institutions. It arises from borrowing to finance expenditures exceeding revenues. Represented by bonds or securities, it reflects the total amount the government owes and is a key indicator of a country's financial health and borrowing capacity. See also Government budget, State, Fiscal policy.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Neoclassical Economics on Government Debt - Dictionary of Arguments

Mause I 235
Government Debt/Neoclassical Theories: NeoclassicismVsKeynesianism: Thesis: State deficits have no effect on overall economic demand, because rational budgets expect the rising debt burden to lead to tax increases in the future as government deficits rise.
>Neoclassical economics
, >">Keynesianism, >J.M. Keynes.
Def Ricardian equivalence: rational households are taking the expectation of rising taxes as an opportunity to reduce their consumption already today.
Tax policy/Neoclassics: many neo-classical economists therefore reject any form of economic control through fiscal policy.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Neoclassical Economics
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018

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