Document Type
Article
Publication Date
1-6-2021
Abstract
Should a government repay its international debts even if this imposes severe hardships on its citizens? Drawing on moral psychology, we investigate when people think a government is morally obligated to pay its debts. Participants read about a government that has to decide whether to default on its debt payments or cut vital programs. Across conditions, we varied the number of jobs at stake and whether a full or partial default is required to save them. Overall, most participants judged that a government should pay its debt even when the damage to the debtor is greater than the benefit to the lender. As the damage to the debtor became extreme, participants increasingly said the government should default, but they still judged that defaulting is morally wrong. In Experiment 2, we find in a national sample of Americans that political conservatives were more opposed to default than liberals. We discuss implications for policy, public opinion, and public welfare during economic downturns.
Recommended Citation
Del Ponte, A., & DeScioli, P. (2022). Pay Your Debts: Moral Dilemmas of International Debt. Political Behavior, 44(4),1657-1680. https://doi.org/10.1007/s11109-020-09675-6
Peer Reviewed
1
Copyright
The authors
Included in
Economic Policy Commons, International Relations Commons, Other Political Science Commons, Other Psychology Commons, Politics and Social Change Commons, Public Policy Commons
Comments
This is a pre-copy-editing, author-produced PDF of an article accepted for publication in Political Behavior, volume 44, issue 4, in 2022 following peer review. This article may not exactly replicate the final published version. The definitive publisher-authenticated version is available online at https://doi.org/10.1007/s11109-020-09675-6.