The Global Debt Crisis: Haunting U. S. and European Federalism

摘要

The Great Recession increased the pressure on national and subnational budgets and often increased the level of public indebtedness. The common theme of this book, a collection of articles edited by Paul E. Peterson and Daniel Nadler, is how the increasing level of public debt affected the relationships between different levels of governments, and how preserving and reinforcing competitive federalism may offer a solution to the current "Debt Crisis." All of the chapters, with one exception, are focused on subnational debt. State and local public debt has been growing in importance both quantitatively and in the academic debate, and a book dealing with subnational debt after the Great Recession was long overdue. The first chapter introduces the book, the next five chapters deal with U.S. states, the seventh chapter deals with the European Union, the eighth chapter with Germany, the ninth and tenth chapters with Spain, and the last chapter with Canada.