Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/186945 
Year of Publication: 
1999
Series/Report no.: 
Working Paper No. 272
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
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 macro economy that provide a basis for analyzing current macroeconomic developments and for formulating effective macroeconomic policies.
Document Type: 
Working Paper

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