Functional Finance and Full Employment: Lessons from Lerner for Today

Finance and employment

How does finance affect employment and inter-industry job reallocations? We present a model that predicts that financial development (i) raises employment and wages, its impact being smaller at high levels of the equilibrium wage and financial development; (ii) may induce either more or less job reallocations, depending on whether shocks to profit opportunities or to cash flow are more prevalen...

Grid Economics: 10 Lessons from Finance

Today Grid technology is finding its way out of the academic incubator and into commercial environments. The interest in on-demand utility computing is larger then ever before in the industry and Grid tools are seen as an important enabler of this business model. The process of Grid commercialization inevitably brings financial issues to the fore. When multiple budget entities share resources, ...

Full Employment

10 Lessons from Finance for Commercial Sharing of IT Resources

Sharing IT resources within and between organizations has an attractive value proposition in terms of efficiency and flexibility, but despite this commercial practice is limited. In contrast, financial and commodity markets have proved very successful at dynamic allocation of different resource types to many different organizations. Thus to understand how the potential benefits of sharing IT re...

Ten Lessons from Finance for Commercial Sharing of IT Resources

Sharing IT resources within and among organizations is an attractive value proposition in terms of efficiency and flexibility, but despite this, commercial practice is limited. In contrast, financial and commodity markets have proved very successful at dynamic allocation of different resource types to many different organizations. Thus to understand how the potential benefits of sharing IT reso...