The most prominent Italian theorist of the late 19th and early 20th centuries, Antonio de Viti de Marco, accepted David Ricardo's proposition that an extraordinary tax and a public loan are equivalent. Despite this common point of analytical departure, their theories of public debt diverged...

Contents: 1. Macroeconomics, fiscal policy, and public debt: conflating myth and reality -- 2. Political economy and the supply of macro guidance -- 3. Engines, ecologies, and economic systems -- 4. Budgeting and public debt within a system of cooperative democracy -- 5. Public debt within...

Contents: Preface -- Part I: Public debt and individual rationality -- 1. De Viti de Marco vs. Ricardo on public debt: self-extinction or default? / Giuseppe Eusepi and Richard E. Wagner -- 2. Governing the market for sovereign bailouts / Karsten Mause -- 3. Political obligations: is debt...

This book makes a rational and eloquent case for the closer integration of ethics and economics. It expands upon themes concerned with esteem, self-esteem, emotional bonding between agents, expressive concerns, and moral requirements