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. |
From inside the book
Results 1-5 of 78
Page
... investment and changing terms of trade; Africa is dirt poor and doomed to debt; the debts of the East European countries are due to unwise communist economic policies; and so on. These foreign public debts create finance and development ...
... investment and changing terms of trade; Africa is dirt poor and doomed to debt; the debts of the East European countries are due to unwise communist economic policies; and so on. These foreign public debts create finance and development ...
Page
... investment and specialization that produces an industry.15 Nature did not endow Florence with the resources that would give it a comparative advantage in cloth production. Italian wool was not of the highest quality, for example, and ...
... investment and specialization that produces an industry.15 Nature did not endow Florence with the resources that would give it a comparative advantage in cloth production. Italian wool was not of the highest quality, for example, and ...
Page
... investments (in looms, stretching sheds, and the like) were made by the owners of small businesses, who performed specialized work on a piecerate basis. In other words, the lanaiuoli supplied the raw materials and circulating capital ...
... investments (in looms, stretching sheds, and the like) were made by the owners of small businesses, who performed specialized work on a piecerate basis. In other words, the lanaiuoli supplied the raw materials and circulating capital ...
Page
... investment; interest was allowable on the latter but proscribed on the former. This change greatly simplified credit transactions, although it may not have affected their number in any significant way. In fact, Bernadino of Siena and ...
... investment; interest was allowable on the latter but proscribed on the former. This change greatly simplified credit transactions, although it may not have affected their number in any significant way. In fact, Bernadino of Siena and ...
Page
You have reached your viewing limit for this book.
You have reached your viewing limit for this book.
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