Probably not good, which is why I’ve invented these “enforcement perpetuities”. As far as I know, nobody has used these financial instruments before, so we have no data on them, and must use logic instead. Your question is like asking the inventor of car whether anybody has travelled 100 miles an hour before. It’s not only a totally irrelevant question, it’s exactly the problem that I’m solving.
So, do you have any logical explanation on why enforcement perpetuities wouldn’t sufficiently incentivize future governments? Either the future government can enact the policy and get their debt wiped without a default, or they can continue to pay the debt. Do you think the future politicians, or even the future public, would prefer the latter?
How well do you think current governments do at abiding by their past commitments that large numbers of their constituents disagree with?
Probably not good, which is why I’ve invented these “enforcement perpetuities”. As far as I know, nobody has used these financial instruments before, so we have no data on them, and must use logic instead. Your question is like asking the inventor of car whether anybody has travelled 100 miles an hour before. It’s not only a totally irrelevant question, it’s exactly the problem that I’m solving.
So, do you have any logical explanation on why enforcement perpetuities wouldn’t sufficiently incentivize future governments? Either the future government can enact the policy and get their debt wiped without a default, or they can continue to pay the debt. Do you think the future politicians, or even the future public, would prefer the latter?