This paper reconsiders the case for the use of fiscal policy based on a "functional finance" approach that advocates the use of fiscal policy to secure high levels of demand in the context of private aggregate demand, which would otherwise be too low. This "functional finance" view means that...

Discussion of the distribution of income is noticeable by its absence from most mainstream macroeconomic analysis, though it does, of course, make an appearance in post Keynesian economics, particularly as derived from the work of Kalecki. This lack of attention to the distribution of income...