why did classical economists oppose public debt
Answers
Answered by
0
Answer:
For the classical economists governments must be as prudent as households; they must balance budgets and refrain from burdensome debt accumulations. ... The classical theory denied that deficit spending added anything to production; indeed, it only diverted private savings from productive purposes.
Answered by
0
For the classical economists governments must be as prudent as households; they must balance budgets and refrain from burdensome debt accumulations. ... The classical theory denied that deficit spending added anything to production; indeed, it only diverted private savings from productive purposes
Similar questions