Macroeconomic policy and Abba Lerner's system of functional finance

Neil Hart

doi:10.1111/j.1759-3441.2011.00117.x

Macroeconomic policy and Abba Lerner's system of functional finance

Neil Hart

Research output: Contribution to journal › Article › peer-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 language	English
Pages (from-to)	208-217
Number of pages	10
Journal	Economic Papers: a journal of applied economics and policy
Volume	30
Issue number	2
DOIs	https://doi.org/10.1111/j.1759-3441.2011.00117.x
Publication status	Published - 2011

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities
SDG 17 Partnerships for the Goals

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10.1111/j.1759-3441.2011.00117.x

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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).",

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Macroeconomic policy and Abba Lerner's system of functional finance

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