DEMOCRACY, DEBT AND DISORDER. TOWARDS THE END OF POLITICAL "GENEROSITY"1 by ProQuest

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									       DEMOCRACY, DEBT
         A D DISORDER.
      TOWARDS THE E D OF
    POLITICAL “GE EROSITY”1
            Giuseppe Eusepi and Luisa Giuriato
              Sapienza University of Rome,
                  Faculty of Economics,
             Department of Public Economics


ABSTRACT
          Unquestionably, the existing welfare state, as has evolved
in a four-decade span, is destined to collapse unless redistribution
enters a new constitutional contract to smooth the intergenera-
tional conflicts that grew out of the presuppositions of Harvey
Road. A key insight is that under the spell of intergenerational
solidarity, fiscal illusion has per
								
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