Classical Economics, Public Expenditure, and Growth

Download or read book Classical Economics, Public Expenditure, and Growth written by Walter Eltis and published by Edward Elgar Publishing. This book was released on 1993 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Walter Eltis's work has played a major role in the rediscovery of the policy relevance of classical economics. His articles on Smith, Quesnay, Ricardo and Malthus, where he derives their underlying economic argument from a detailed examination of their principal publications, led to the Bacon and Eltis theory which challenged Keynesian orthodoxy. It showed how growing public expenditure and increasing public debt reduce economic growth and destabilize modern economies. This volume includes a carefully chosen selection of his key articles and papers, as well as an extensive introductory essay which provides an account of the evolution of his ideas and their impact on economic policy.