public debt

Today’s advocates of Modern Monetary Theory are following in the footsteps of Abba Lerner, an economist who advocated monetizing debt to achieve full employment. Heeding their call to keep printing money until social goals are met can only lead to more taxation – and potentially a heavy burden on the ...

Around the world, governments are finding ways to hide how much they are really taxing their citizens. Though these practices create a huge drag on economies, current political trends favor increased government spending. GIS expert Emmanuel Martin examines where this is taking us, and if the tide can be turned ...

Europe and the U.S. share a common commitment to monetization: their central banks buy much of the debt issued by the government. However, while the share of European bonds in the hands of non-European investors is limited, the portion of U.S. Treasuries held abroad is significant. GIS economic expert Enrico ...

While there is no shortage of debate over future risks in the public sphere, little is said about the dangers of collapsing health and retirement systems – a near-inevitable reality given the demographic situation in many Western states. The current pandemic provided governments with the opportunity to engage in a ...