We are honoured to introduce the next guest of PFI Talks, American economic historian Barry Eichengreen. In an interview with PFI Talks, US economist Barry Eichengreen warns of the dangers of exceeding the US debt ceiling. If the government is unable to repay its debts, some government functions could be closed down and state employees laid off. Eichengreen stresses that debt should be used to bridge crises, not to cover holes in the government budget. Eichengreen also points out that political polarisation makes it difficult to reach a consensus on debt reduction, which is essential for a balanced budget.
Interview in Czech language
Interview in English language
Barry Eichengreen – Professor of Economics and Political Science/University of California
Mr. Barry Eichengreen is a graduate of the University of California, Santa Cruz, and a professor of economics & political science at the University of California, Berkeley, where he has taught since 1987. He is also currently a Research Fellow at the National Bureau of Economic Research and a Research Associate at the Center for Economic Policy Research. In November 2021, he published In Defense of Public Debt. In it, Barry Eichengreen and his co-authors trace the evolution of public debt from the wars of medieval Europe to the covid-19 crisis, illustrating the many positive uses of public debt.