Loans taken by the government for purpose of war, earthquake for covering defit are
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Monetarist/free market perspective on why governments borrow
Monetarists are more critical of government borrowing arguing that government borrowing is often due to political pressures. As Milton Friedman stated “There is nothing so permanent as a temporary government programme” Friedman argued government borrowing arises due to vested political interests which keep governments committed to raising spending on programmes like social security, farm subsidies and healthcare.
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