000			01904nam a22002177a 4500
999			_c2872 _d2872
005			20220715114447.0
008			220715b ||||| |||| 00| 0 eng d
020			_a9783030487935
082			_a336.34 _bBAR
245			_aA world of public debts: a political history
260			_bPalgrave Macmillan _aSwitzerland _c2020
300			_axliv, 564 p.
365			_aEURO _b119.99
520			_aAbout this book This book analyzes public debt from a political, historical, and global perspective. It demonstrates that public debt has been a defining feature in the construction of modern states, a main driver in the history of capitalism, and a potent geopolitical force. From revolutionary crisis to empire and the rise and fall of a post-war world order, the problem of debt has never been the sole purview of closed economic circles. This book offers a key to understanding the centrality of public debt today by revealing that political problems of public debt have and will continue to need a political response. Today’s tendency to consider public debt as a source of fragility or economic inefficiency misses the fact that, since the eighteenth century, public debts and capital markets have on many occasions been used by states to enforce their sovereignty and build their institutions, especially in times of war. It is nonetheless striking to observe that certain solutions that were used in the past to smooth out public debt crises (inflation, default, cancellation, or capital controls) were left out of the political framing of the recent crisis, therefore revealing how the balance of power between bondholders, taxpayers, pensioners, and wage-earners has evolved over the past 40 years.
650			_aDebts, Public _97500
650			_aWorld politics _97501
650			_aFinance _9231
700			_aBarreyre, Nicolas _97502
700			_aDelalande, Nicolas _97503
942			_2ddc _cBK