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infospace: process book-5-chapter-03

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Extract entities, map to VSM, and synthesize analysis.
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Bernd Worsch
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<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-5-chapter-03 -->
# Perpetual Funding
## Definition
The practice of converting government debt into perpetual annuities that pay
interest indefinitely without requiring repayment of principal, allowing
governments to borrow larger sums than would be possible through short-term
anticipations.
## Source Chapter
Book V, Chapter 3
## Context
Smith traces the evolution from anticipation to perpetual funding as governments
sought to borrow larger sums, noting that this practice delays but does not
eliminate the burden of public debt.
## Economic Domain
Regulation
---