TY - JOUR
T1 - Macroeconomic policy and Abba Lerner's system of functional finance
AU - Hart, Neil
PY - 2011
Y1 - 2011
N2 - 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).
AB - 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).
UR - http://handle.uws.edu.au:8081/1959.7/539052
U2 - 10.1111/j.1759-3441.2011.00117.x
DO - 10.1111/j.1759-3441.2011.00117.x
M3 - Article
SN - 0812-0439
VL - 30
SP - 208
EP - 217
JO - Economic Papers: a journal of applied economics and policy
JF - Economic Papers: a journal of applied economics and policy
IS - 2
ER -