Abstract

http://ssrn.com/abstract=174849
 
 

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Functional Finance and Full Employment: Lessons from Lerner for Today


Mathew Forstater


Bard College - The Levy Economics Institute

July 1999

The Jerome Levy Economics Institute Working Paper No. 272

Abstract:     
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.

Number of Pages in PDF File: 8

JEL Classification: E60, E61

working papers series


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Date posted: August 26, 1999  

Suggested Citation

Forstater, Mathew, Functional Finance and Full Employment: Lessons from Lerner for Today (July 1999). The Jerome Levy Economics Institute Working Paper No. 272. Available at SSRN: http://ssrn.com/abstract=174849 or http://dx.doi.org/10.2139/ssrn.174849

Contact Information

Mathew Forstater (Contact Author)
Bard College - The Levy Economics Institute ( email )
Blithewood
Box 5000
Annandale-on-Hudson, NY 12504
United States
845-758-7700 (Phone)
845-758-1149 (Fax)
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