Schumpeter theorem

In a democratic party state, it is not possible to build up a budget reserve in the long run because the desires of the various interest groups (lobbyists: groups that influence public opinion, parliaments and government on behalf of special interests) are too strong. The Austrian national economist Joseph A. Schumpeter (1883-1950) is credited with the statement: a dog is more likely to stockpile sausages than a democratic government is to build up a budget reserve. – See hardship fund, disaster fund, shadow state, treasury, stability and growth pact.

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