Has public debt in the developed world become fundamentally unmanageable? The question is far from outlandish. Recent debt numbers starkly underline how far we have moved beyond the ancient public finance paradigm whereby debt was racked up in wars and paid down in peacetime.
发达国家的公共债务是否已从根本上变得不可收拾？这个问题一点也不离谱。最新的债务数据清楚地表明，我们早已远离了那种古老的公共财政范式——在战争时期举债、在和平时期偿还。
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