David Stasavage
Forfatter af The Decline and Rise of Democracy: A Global History from Antiquity to Today
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In any case, the historical analysis indeed indicates that the credibility of public debt repayment was problematic in the 18th century, and the author provides good explanations for why the problems were smaller in England than in France. But even though the author hints that the theories and conclusions of this book could be generalized to more modern times, in my opinion they seem quite narrowly limited to special circumstances where states owe most of their debt to their own citizens. All in all I would have liked a little less theorizing, and perhaps a bit more explication of taxation, since taxation and debt were the available alternatives for funding public spending. Nevertheless, this is an enlightening book especially for readers with some previous familiarity with French and British politics in these years.… (mere)