{"product_id":"public-debt-as-a-form-of-public-finance","title":"Public Debt as a Form of Public Finance","description":"\u003cp\u003eEconomists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.\u003c\/p\u003e","brand":"Cambridge University Press Bookshop","offers":[{"title":"Default Title","offer_id":56669800857986,"sku":"9781108735896","price":18.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0475\/2031\/7597\/files\/9781108735896i.jpg?v=1779714367","url":"https:\/\/www.cambridgebookshop.co.uk\/products\/public-debt-as-a-form-of-public-finance","provider":"Cambridge University Press Bookshop","version":"1.0","type":"link"}