© 2015

Debt, Democracy and the Welfare State: Are Modern Democracies Living on Borrowed Time and Money?


Table of contents

  1. Front Matter
    Pages i-vi
  2. Rögnvaldur Hannesson
    Pages 1-14
  3. Rögnvaldur Hannesson
    Pages 15-29
  4. Rögnvaldur Hannesson
    Pages 30-43
  5. Rögnvaldur Hannesson
    Pages 44-59
  6. Rögnvaldur Hannesson
    Pages 60-76
  7. Rögnvaldur Hannesson
    Pages 77-85
  8. Rögnvaldur Hannesson
    Pages 86-95
  9. Rögnvaldur Hannesson
    Pages 96-102
  10. Back Matter
    Pages 103-115

About this book


Why is it that government debt in the developed world has risen to world war proportions in a time of peace? This can largely be attributed to governments maintaining welfare expenditures beyond what tax revenues allow. But will these governments refrain from doing what is necessary for economic growth for fear of losing their electorate?


Government debt democracy Sweden welfare state public consumption government revenue taxes Keynesianism economic growth European Union (EU) growth money Welfare Welfare State

Authors and affiliations

  1. 1.Norwegian School of EconomicsNorway

About the authors

Rögnvaldur Hannesson is Professor Emeritus of Economics at the Norwegian School of Economics, Bergen. He has published over 100 articles in professional journals, as well as several books, including Ecofundamentalism: A critique of Extreme Environmentalism, The Privatization of the Oceans, and Investing for Sustainability: The Management of Mineral Wealth.

Bibliographic information

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