MMP Blog #31: FUNCTIONAL FINANCE: Monetary and Fiscal Policy for Sovereign Currencies
This week we begin a new topic: functional finance. Today we will lay out Abba Lerner’s approach to policy.
This week we begin a new topic: functional finance. Today we will lay out Abba Lerner’s approach to policy.
We should not be fooled by such self-imposed constraints. We should be able to see through them to understand that since they are imposed by government on itself, they can be removed.