Library science

Wonder

Macroeconomics

Labour economics

Monetary policy

Engineering

Philosophy

Stock (firearms)

Social psychology

Public spending

Economics

New Keynesian economics

Computer science

Neoclassical economics

Mechanical engineering

Post-Keynesian economics

Keynesian economics

Psychology

Politics

Political science

Monetary economics

Epistemology

Debt

Unemployment

Dissent

Positive economics

Subject (documents)

Journal of Government and Economics

When a governmental crisis subsides, citizens are apt to wonder whether all the deficit spending is going to cost something. This situation is the subject of wildly differing views. Which view appears to be most nearly right? The Keynesian view that public debt serves to pull up employment, thus reducing the unemployment rate and inducing higher participation? Or the neoclassical view that public debt sets the capital stock onto a lower path, thus decreasing the labor force and employment?

Public Debt: My Dissent from “Keynesian” Theories