Analyses of the nature of debt relying on the theory of rational expectations conclude that the burden of public debt need not fall on future generations if the present generation anticipates the higher taxes needed in the future for debt servicing. However, there have been many instances where...

The activity of lobbying in an economy is one which has numerous societal costs and benefits. The most significant effect is how far from the optimum productivity curve does it move an economy. Is the net effect a negative or positive gain in social welfare measured by standard of living and...