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....

1. Introduction: Reviving the Work of America's Most Original Economist -- 2.Understanding Rents in the Real Economy -- 3. Growth and Rents in the Real Economy -- 4. A New Look at the "Henry George Theorem" -- 5. Savings and Investment: From the Price Mechanism to the Multiplier -- 6. From Craft...