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