Treasury Ownership Marks Wealth Divide
Tett, Gillian.
(2013).
Financial Times. 14 November.
(Article - Newspaper; English).
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Abstract or Brief Description
FROM THE ARTICLE: "Contrary to the usual assumption that government debt is widely held, Mr Hager's data suggests ownership has become far more concentrated recently, echoing a wider concentration of wealth in the US. . . . [E]ven if you disagree with Mr Hager’s leftwing political bent, the data certainly casts a new light on the political dynamic in the current fiscal rows. To the wealthy elites in the US who hold government bonds, it seems self-evident that the government needs to preserve the sanctity and value of Treasuries; this group has a strong incentive to ensure this happens via fiscal reform (particularly if this entails budget cuts, rather than higher taxes.) But what is rarely debated is that millions of poor Americans have far less (or no) skin in the Treasuries game. Little wonder, then, that the fiscal debate is so polarised, and unlikely to become any less so any time soon."
Language
EnglishPublication Type
Article - NewspaperCommentary on
Public Debt, Ownership and Power: The Political Economy of Distribution and RedistributionHager, Sandy Brian. (2013). Unpublished PhD Dissertation. Political Science. York University. (Thesis; English).
Keywords
distribution ownership policy public debt United StatesSubject
BN PowerBN Money & Finance
BN Region - North America
BN State & Government
BN Policy
BN Distribution
BN Class
Depositing User
Jonathan NitzanDate Deposited
15 Nov 2013Last Modified
08 Apr 2016 01:06URL:
http://bnarchives.yorku.ca/id/eprint/386Commentary/Response Threads
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Hager, Sandy Brian
Public Debt, Ownership and Power: The Political Economy of Distribution and Redistribution. (deposited 04 Nov 2013)
- Hager, Sandy Brian and Sandronsky, Seth Rethinking US Debt -- An Interview with Sandy Brian Hager. (deposited 05 Jun 2014)
- Tett, Gillian Treasury Ownership Marks Wealth Divide. (deposited 15 Nov 2013) [Currently Displayed]
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