The Restoration of Fiscal Stability. A Public Choice Approach on the Problem of Public Debt

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ID: 270589
2018
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Abstract
In contemporary democracy fiscal policy is not employed for the fiscal control of necessary state activities but for generation of deficits which causes the state to feed on itself, expands enormously in the service of special interests and is contrary to the public’s interest in fiscal stability and discipline. Starting from the origin of and the reason for, the classical liberal state, I undertake an analysis of the historical theoretical background of public choice. The development and application of public choice analysis can work towards restoring fiscal stability, especially after the outbreak of the global financial crisis that generated the enormous increases in the public deficit and debt in the developed democracies.
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Authors Panagiotis Evangelopoulos;Panagiotis Evangelopoulos;Panagiotis Evangelopoulos;
Journal Theoretical Economics Letters
Year 2018
DOI
doi:10.4236/tel.2018.82010
URL
https://dx.doi.org/10.4236/tel.2018.82010
Keywords
democracy fiscal stability public choice classical liberal state

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