Can Government Go Bankrupt? by RICHARD ROSE PDF

By RICHARD ROSE

ISBN-10: 1349814180

ISBN-13: 9781349814183

ISBN-10: 1349814202

ISBN-13: 9781349814206

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Marx's long-awaited collapse of capitalism. Yet left-wing economists are conspicuously silent about how a Socialist or Communist takeover of the means of production would reconcile the basic problem of matching potentially infinite human wants and inevitably finite resources. 11, Eastern European governments too face big problems of effectively managing their economies and governing with consent. " 16 Some analyses of contemporary difficulties stand athwart conventional categories of left and right.

Italy has the unfortunate distinction of combining a long tradition of citizen indifference to government with a highly vulnerable contemporary political economy. " 15 The world recession of the 1970S has imperilled the position of the dominant Christian Democratic Party by reducing the public funds it has relied upon to buy Undermining Political Authority support with porkbarrel politics. The 1976 Italian election resulted in the return of a Christian Democratic govemment without a majority in Parliament.

Because raising and spending money is a continuous process, there can be a time when a government is temporarily overloaded, whether from an excess of spending zeal directed at winning an election, an unexpected down turn in the economy, or public deficits intentionally created to prime the Keynesian engine of economic growth. But no government can indefinitely spend more than its country produces. Sooner or later, it must reduce the excess load. It can do this by the politically appealing course of increasing the size of the national pie, or by the politically unpalatable course of reducing spending on public policy or cutting take-horne pay or doing both.

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Can Government Go Bankrupt? by RICHARD ROSE


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