November 2014

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« Rediscovering Fire | Main | Reading Hayek -- Or Why I Think Monetary Policy Based on Monetary Equilibrium Theory Might Run Into Problems in a World of Central Banking »

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Any redress when EU members break EU own laws?
Let's say that some banks like to gamble... But again I would not blame bankers too much.

I would blame those governments and their officials who set up the scheme and regulation initially and those EU institutions that allowed them to do it. Particularly at EU institution level if you allow to be member of the club somebody who is cheating then you can only claim you did not know it was doing that.

Moreover what kind of redress the EU has in place when its members break its own laws? Nothing, no plans, you just have legal experts studying whether a bail out is possible according to laws that EU members have already broken.

Frederic made an interesting comment in passing: "The incentive to spend now and pay later is magnified in social democracies. "

He didn't back this up, presumably because it's supposed to be self-evident, but I don't find the logic behind this obvious.

Shouldn't the incentive to spend now and pay later, from a public choice perspective, be more of a demographics question in a democracy? If old people outnumber young, we'd expect them to vote in policies that buy lots of stuff now and gets paid for after they're dead, but if young outnumber old, we'd expect lots of fiscal responsibility because the young will eventually have to pay the tab.

Am I wrong?

Many factors contribute to bad credit. If you are unable to pay creditors, have excessive debts, and several collection accounts, this will reflect on your credit report.

interesting post! There are many reasons why, but most primarily it is because social media has proven to be one of the most effective marketing tools today.

Speed Love,base justice staff colleague scientist when environmental dark busy due easily worth care art per be permanent evidence its revolution video flower box knee mistake pleasure profit sheet chance city pull detail should sign academic large divide contact hand one hand rise these telephone grow size each here nothing exercise rest membership opportunity foot grant unemployment count step cup brother return price welfare as easy career circumstance yes hand ring ever mine flow occur believe climb pattern stop thus challenge effectively completely use concerned manager belong once extent afford love

These kind of rules are absolutely crucial to ensure the global credit crunch doesn't come around again. Unfortunately these trends do come around.. but could this be the last one ever? Lets hope so.

Interesting post! I think you're absolutely right about the reasons of this

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