Cambridge Elements in Austrian Economics is a series of publications primarily focused on contemporary developments in the Austrian School of Economics, its relevance to the methodological and analytical debates at the frontier of social science and humanities research, and the continuing relevance of the Austrian School of Economics for the practical affairs of public policy throughout the world. As a part of the series, this monograph, written by Richard E. Wagner, explores the language of public debt in democracies and reexamines the capacity of democracies to restrain recourse to public debt and induce rational political action.

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