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Functional Finance and Full Employment: Lessons from Lerner for Today

SSRN Electronic Journal
1999
  • 1
    Citations
  • 5,348
    Usage
  • 4
    Captures
  • 0
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    1
    • Citation Indexes
      1
  • Usage
    5,348
    • Abstract Views
      4,826
    • Downloads
      522
  • Captures
    4
  • Ratings
    • Download Rank
      108,211

Article Description

Recent global economic developments invite a reconsideration of orthodox macroeconomic theory and policy and encourage a revisiting of the ideas of unorthodox thinkers of the past. This paper reviews fifteen lessons to be learned from the work of Abba Lerner. These lessons, which fall under the general categories of functional finance and full employment, are as relevant today as they were when they were first put forward some five decades ago. They include insights into the workings of the macroeconomy that provide a basis for analyzing current macroeconomic developments and for formulating effective macroeconomic policies.

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