The Burden of War and Future Generations — A. C. Pigou
The Langenderfer Library: Classics in Tax, Economics, and AccountingShow Notes
Can the economic burden of war be shifted to future generations by borrowing rather than taxing? A. C. Pigou separates the immediate use of labor and resources from the later financial obligations created by public debt.
By distinguishing real costs from transfers among taxpayers and bondholders, Pigou clarifies how war finance affects saving, capital formation, and the distribution of burdens across time. The analysis remains a classic guide to thinking about debt-financed public expenditure.
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