This constitutional approach limited the scope for wasteful spending on luxurious court life (as well as on military adventure), which had been the hallmark of early modern autocratic monarchy. The result was a dramatic reduction in the British state’s borrowing costs and the emergence of a well-functioning capital market, which caused private borrowing costs to fall as well.
这一宪政安排限制了追求侈靡生活（和军事扩张）的挥霍性开支，而这正是早期现代独裁君主体制的特征。其结果是英国国家借贷成本的大幅下降和功能良好的资本市场的产生，从而让私人借贷成本也跟着下降。代议制政府及其逻辑产物——民主原则成为良好债务管理的经典模式。