The accumulation of money in political entities (municipalities, counties, states, federal states) with the purpose of – saving funds for specific tasks or – strengthening their own creditworthiness. – As financial history teaches, the accumulation of a budget reserve has almost never succeeded. The Austrian economist Joseph A. Schumpeter (1883-1950) probably rightly remarked: it is more likely for a dog to build up a stock of sausages than for a democratic government to build up a budget reserve. – See hardship fund, disaster fund, Schumpeter theorem, treasury.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/