[eng] Born some twenty years ago, the New Classical school has induced the development of a new research program, systematically applying the neo-classical methods of intertemporal, general-equilibrium analysis to macroeconomic issues. New classical economists are characterized by a preference...

Under the Articles of the Confederation, the central government of the United States had limited power to tax. Therefore, large debts accumulated during the US War for Independence traded at deep discounts. That situation framed a US fiscal crisis in the 1780s. A political revolution ?for that...