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Reinventing Functional Finance |
Edited by Edward J. Nell, Malcolm B. Smith Professor of Economics, Graduate Faculty, New School University, US and Mathew Forstater, Associate Professor of Economics and Director, Center for Full Employment and Price Stability, University of Missouri, Kansas City, US
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| 2003 |
368 pp |
Hardback |
978 1 84376 111 2 |
£85.00 |
on-line discount
£76.50 |
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| 2005 |
368 pp |
Paperback |
978 1 84542 220 2 |
£37.50 |
on-line discount
£30.00 |
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‘Nell and Forstater have put together a set of thought-provoking papers that examine Lerner’s functional finance theory, linking it to transformational growth, full employment, price stability, labour market dynamics, as well as fiscal and monetary policies . . . Reinventing Functional Finance is a must read for all scholars interested in public finance and full employment policy. Policymakers (and their economic advisers) are encouraged to read it and to consider going back to the basic insights that Abba Lerner and others brought to light six decades ago. This is an insightful, fresh, and well-overdue look at functional finance and its policy implications. The challenging task ahead is to take the principles of functional finance back to the policy arena.’
– Fadhel Kaboub, International Labor Review
This ambitious book seeks both to revive and revise the idea of ‘functional finance’. Followers of this doctrine believe that government budgets should concentrate solely on their macroeconomic impact on the economy, rather than reflecting a concern for sound finance and budgetary discipline.
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Contents: Preface Part I: Introduction Part II: Functional Finance: The Background Part III: Assessing the Inflation Barrier Part IV: Fiscal and Monetary Linkages Part V: Functional Finance and Full Employment Part VI: The Final Hour Index
Contributors: P.G. Berglund, D. Colander, J.S. Duesenberry, W.A. Eberstadt, R. Eisner, M. Forstater, P. Harvey, R. Heilbroner, R. Majewski, P. Mehrling, W.F. Mitchell, R.A. Musgrave, E.J. Nell, I.H. Rima, L.-P. Rochon, J. Smithin, H.-M. Trautwein, L. Turgeon, L.R. Wray
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