Fiscal policy revival sparks debate on mainstream vs. Post-Keynesian approaches.
The article discusses how recent mainstream economic thinking is reconsidering the use of fiscal policy for stabilizing the economy and achieving full employment. It compares this new approach with the Post-Keynesian view, which emphasizes the importance of fiscal policy in achieving these goals. The mainstream has moved away from the Keynesian idea that fiscal policy can directly lead to full employment, while the Post-Keynesian approach aims to restore this connection through strategies like direct job creation.