Debt, Democracy and the Welfare State: Are Modern Democracies Living on Borrowed Time and Money?

Why is it that government debt in the developed world has risen to world war proportions in a time of peace? This can largely be attributed to governments maintaining welfare expenditures beyond what tax revenues allow. But will these governments refrain from doing what is necessary for economic gro...

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Bibliographic Details
Main Author: Hannesson, Rögnvaldur
Format: eBook
Language:English
Published: London Palgrave Macmillan UK 2015, 2015
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
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520 |a Why is it that government debt in the developed world has risen to world war proportions in a time of peace? This can largely be attributed to governments maintaining welfare expenditures beyond what tax revenues allow. But will these governments refrain from doing what is necessary for economic growth for fear of losing their electorate?