Mountains of Debt: Crisis and Change in Renaissance Florence, Victorian Britain, and Postwar AmericaLike the United States today, Renaissance Florence and Victorian Britain were the richest, most dynamic economic systems of their times. Yet each succumbed to a fiscal crisis brought on by public debt and taxation and eventually fell into long-term economic decline. Now, public debt and taxation dominate the America policy agenda. Must the United States follow the same dismal pattern of fiscal crisis and economic decline? Mountains of Debt argues that it is not too late for the United States to change directions and suggests a comprehensive program for reform of American fiscal institutions that would reduce the deficit problem and at the same time reverse the long-term structural trends that are both the cause and the effect of the fiscal crisis today. Offering proposals for reducing the deficit, this new analysis could alter the current course of the United States economy. |
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... capital are used require changes in the labor allocation). Major shifts in how labor resources are used can only be realized if these other associated resources are also very mobile. This mobility, fundamentally, is the problem of ...
... capital are used require changes in the labor allocation). Major shifts in how labor resources are used can only be realized if these other associated resources are also very mobile. This mobility, fundamentally, is the problem of ...
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... capital are not so flexible as a pickup truck; capital tends to be industryspecific, sitespecific, processspecific, or even firmspecific. This means that capital is often specialized and has only a narrow range of realistic potential ...
... capital are not so flexible as a pickup truck; capital tends to be industryspecific, sitespecific, processspecific, or even firmspecific. This means that capital is often specialized and has only a narrow range of realistic potential ...
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... capital, which is necessary if labor and other resources are to be free to move in, and adapt to, this changing world. Financial markets therefore play an important role in the pattern of structural change that an economy adopts and ...
... capital, which is necessary if labor and other resources are to be free to move in, and adapt to, this changing world. Financial markets therefore play an important role in the pattern of structural change that an economy adopts and ...
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... capital from going from one [trade] to another. They even kept the trade of city A quite apart from the same trade in city B; they would not let capital or labor flow from one to the other.... We now know this to be a great error; such ...
... capital from going from one [trade] to another. They even kept the trade of city A quite apart from the same trade in city B; they would not let capital or labor flow from one to the other.... We now know this to be a great error; such ...
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... capital and directly manage the production process. This differentiates the Florentine entrepreneurs from, say, the eighteenth and nineteenthcentury British textile manufacturers and makes them more like the Dutch textile manufacturers ...
... capital and directly manage the production process. This differentiates the Florentine entrepreneurs from, say, the eighteenth and nineteenthcentury British textile manufacturers and makes them more like the Dutch textile manufacturers ...
Contents
Mountains of Debt and the Heart of Florence | |
Britain and the Industrial Revolution | |
The Odious Tax and the Standing Miracle | |
The American Century and the American Crisis | |
The Changing Structure of American Government | |
The New Mountains of Debt | |
Saddle Points | |
Changing Directions | |
NOTES | |
BIBLIOGRAPHY | |
INDEX | |
Other editions - View all
Mountains of Debt: Crisis and Change in Renaissance Florence, Victorian ... Michael Veseth No preview available - 1990 |
Common terms and phrases
baby boom banks Black Death budget capital catasto change and fiscal Ciompi cloth commune’s consumption Corn Laws corporate Cosimo costs created deficit domestic dowry fund economic growth effect entrepreneurs example factors federal fifth element finance financial markets firms fiscal balance fiscal crisis fiscal imbalance flat tax Florence’s Florentine economy florin foreign government’s growing guilds important incentives income tax increase Industrial Revolution innovations institutions interest investment labor living standards longterm manufacturing Medici Medici bank Monte Commune Monte shares Napoleonic Wars national debt needed outlays pattern Peace of Lodi Peel’s percent perhaps period political population postwar private sector problem production profits programs public debt Renaissance Florence rigid rise role saddle point shift shortterm social insurance social security structural change tax burden tax expenditures tax rates tax reform tax system trade trend U.S. economy United Victorian Britain wealth workers world economy