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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... pattern of structural change that an economy adopts and, indeed, in how successfully economic transformation is implemented. Financial markets are not perfect, however; they are social institutions and, as such, are subject to hardening ...
... pattern of structural change that an economy adopts and, indeed, in how successfully economic transformation is implemented. Financial markets are not perfect, however; they are social institutions and, as such, are subject to hardening ...
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... pattern of its government in the long run. But this simple relationship is complicated by the fact that government institutions also set rewards and penalties and provide incentives for actions in the private sector. In short ...
... pattern of its government in the long run. But this simple relationship is complicated by the fact that government institutions also set rewards and penalties and provide incentives for actions in the private sector. In short ...
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... pattern is explained by the random cycles of nature, with its floods, famines, and plagues. Much of the fate of the Florentine economy will be found in the people themselves, how they sought to resolve nature's contradictions and how ...
... pattern is explained by the random cycles of nature, with its floods, famines, and plagues. Much of the fate of the Florentine economy will be found in the people themselves, how they sought to resolve nature's contradictions and how ...
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... pattern set by Calimala merchants, engaging in complex, longdistance international transactions. Highquality raw wool was imported in quantity from England, Spain, and other countries. Cloth of high (but probably not the highest) ...
... pattern set by Calimala merchants, engaging in complex, longdistance international transactions. Highquality raw wool was imported in quantity from England, Spain, and other countries. Cloth of high (but probably not the highest) ...
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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