Mountains of Debt: Crisis and Change in Renaissance Florence, Victorian Britain, and Postwar America

Hardcover | April 30, 1999

byMichael Veseth

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Like 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 andtaxation 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 fiscalinstitutions 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 Stateseconomy.

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From Our Editors

This provocative work presents a unique analysis of the current economic problems and policies of the United States based on a comparative historical approach. The study looks at what happens when flourishing economies begin to accumulate large public debts, falling from fiscal balance toward fiscal crisis, where the problem of managin...

From the Publisher

Like 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 andtaxation dominate the America policy agenda. Must ...

Michael Veseth is at University of Puget Sound.

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Format:HardcoverDimensions:256 pages, 9.57 × 6.46 × 1.02 inPublished:April 30, 1999Publisher:Oxford University Press

The following ISBNs are associated with this title:

ISBN - 10:0195064208

ISBN - 13:9780195064209

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From Our Editors

This provocative work presents a unique analysis of the current economic problems and policies of the United States based on a comparative historical approach. The study looks at what happens when flourishing economies begin to accumulate large public debts, falling from fiscal balance toward fiscal crisis, where the problem of managing the public debt overwhelms the traditional concerns of public policy.

Editorial Reviews

"The book is a good one, the topic is of great current interest. Veseth has some real scholarly insight into U.S. public finance."--Charles P. Kindleburger