In his essay on public credit, Hume advances two arguments in favour of government borrowing and five against. It is interesting to cast his various arguments and claims in terms of modern models, or their variants, to see how they might be formalized ‐ and thus potentially supported, or qualified, or contradicted. Some of Hume's observations seem somewhat mistaken in the light of later and recent experience, while others appear uncannily prescient.
|Publisher||Edinburgh School of Economics Discussion Paper Series|
|Number of pages||23|
|Publication status||Published - 16 Jun 2011|
|Name||ESE Discussion Papers|