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 the macroeconomic impact on the economy, rather than reflecting a concern for sound finance and budgetary discipline....

Is the theory of money that underlies most modern macroeconomics well-grounded? What determines the value of a currency, and how is the state?s power over its currency related to its ability to stabilize prices and employment? Charles Goodhart?s classic paper ?The Two Concepts of Money: Implications for the Analysis of Optimal Currency Areas?...

Making Sense of a Changing Economy presents an unorthodox and original view of the current state of economic theory and policies. Deriding the general trend for "econobabble\', the author explains the reason why conventional wisdom in economics now seems irrelevant and looks to likely future scenarios....