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Public Debt

Money or credit owed by a central (or state or local) government to creditors foreign or domestic. The size of the public debt reflects how much of public spending is borrowed. Since government revenue comes mainly from taxation, public debt translates into future taxation.

 

Antony Davies - What are the Dangers of Too Much Debt (LearnLiberty.org)

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The Lowdown on Crude Keynesianism

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As the economy goes south, we hear calls for a "second stimulus," most prominently from Paul Krugman, the Nobel-winning economist and New York Times columnist.

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You mean we don't owe it to ourselves?

FEE Timely Classic
"A $5 Trillion National Debt" by Hans F. Sennholz

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November 2014

It's been 40 years since F. A. Hayek received his Nobel Prize. His insights, particularly on the distribution of knowledge and the impossibility of economic planning, remain hugely important today. In this issue, we look back on the influence of his work. Max Borders and Craig Biddle debate whether liberty must be defended from one absolute foundation, further reflections on Scottish secession, and how technology is already changing our world for the better--including how robots, despite the unease they cause, will only accelerate this process.
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