Functional Finance
Contents
Unlocking the Secrets of Functional Finance: A Comprehensive Guide
Exploring the Core Concepts of Functional Finance
Dive into the world of functional finance, a macroeconomic theory pioneered by economist Abba Lerner during World War II. Discover how this unorthodox approach advocates for government intervention to mitigate economic instability and promote full employment.
Understanding the Principles of Functional Finance
Explore the fundamental tenets of functional finance theory, which prioritize government intervention to regulate key economic variables such as unemployment, inflation, and consumer spending. Learn how deficit spending and tax policies play a crucial role in achieving economic stability.
Delving into Abba Lerner's Legacy
Uncover the life and work of Abba Lerner, a renowned economist and disciple of John Maynard Keynes. Explore Lerner's contributions to economic theory, including his groundbreaking insights on the relationship between employment and inflation, as well as his development of the Lerner Index.
Examining the Influence of Keynesian Economics
Gain insights into the impact of John Maynard Keynes on Lerner's work and the broader field of economics. Learn how Keynesian principles shaped Lerner's advocacy for government intervention and his vision of a planned economy.