LE FIGARO Are you worried about the general increase in indebtedness?
Jean-Marc DANIEL.-
Yes.
There is an old argument against public debt, which is that it transfers from the poorest to the richest.
Indeed, the taxes levied on everyone are used to pay the interest paid to the holders of public securities who mainly belong to the wealthy part of the population.
More fundamentally, unlimited public and private indebtedness sharply increases demand, which ends up leading either to an inflow of external supply, that is to say a higher trade deficit, or to a revival of inflation.
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Populism and neoliberalism, two sides of the same coin?
In addition, the increase in public debt gives rise to negative expectations.
The induced savings reflex pushes the price of assets up, especially real estate assets, so that public debt drives the middle class out of town centers ...
Should we review the European criterion of a public debt limited to 60% of GDP?
This threshold has no basis
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