Macroeconomic policy and Abba Lerner's system of functional finance

Neil Hart

    Research output: Contribution to journalArticlepeer-review

    4 Citations (Scopus)

    Abstract

    Lerner’s system of functional finance, said to have provided the logical frame-work for Keynes’s policy, has largely been neglected in the recent literature and policy deliberation. This paper considers the relevance of Lerner’s system and at the same time provides a critique of the opposing ‘sound finance’ doctrine that governs much of the current thinking on macroeconomic policy making in the shadows of the Global Financial Crisis (GFC).
    Original languageEnglish
    Pages (from-to)208-217
    Number of pages10
    JournalEconomic Papers: a journal of applied economics and policy
    Volume30
    Issue number2
    DOIs
    Publication statusPublished - 2011

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