L. Randall Wray is a Professor of Economics at the University of Missouri-Kansas City and Senior Scholar at the Levy Economics Institute of Bard College, NY. A student of Hyman P. Minsky, Wray has focused on monetary theory and policy, macroeconomics, financial instability, and employment policy. He has published widely in journals and is the author of Understanding Modern Money: The Key to Full Employment and Price Stability (Elgar, 1998) and Money and Credit in Capitalist Economies (Elgar 1990). Wray received a B.A. from the University of the Pacific and an M.A. and Ph.D. from Washington University in St. Louis. He has served as a visiting professor at the Universities of Rome and Bologna in Italy, the University of Paris, and UAM and UNAM in Mexico City.

Recent Blog Posts by L. Randall Wray

• Hyman Minsky and the Employer of Last Resort May 16th, 2013
• NEWS ALERT: FED ANNOUNCES ROUND FOUR OF QUANTITATIVE EASING! May 14th, 2013
• A New Meme For Money: the EEA presentation May 10th, 2013
• By Jove, He’s Got It: Krugman (Finally) Adopts MMT (And so does Summers) May 6th, 2013
• Reconciling the Liquidity Trap With MMT: Can DeLong and Krugman Do the Full Monty With Deficit Owls? May 1st, 2013
• The Absolutely Final and Definitive Destruction of Reinhart And Rogoff April 30th, 2013
• Expansionary Austerity: Reinhart&Rogoff and the Neolibs April 21st, 2013
• Why Reinhart and Rogoff Results are Crap April 20th, 2013
• NO, ROGOFF AND REINHART, THIS TIME IS DIFFERENT! SLOPPY RESEARCH AND NO UNDERSTANDING OF SOVEREIGN CURRENCY April 17th, 2013
• KRUGMAN DOES MMT AGAIN: GOLDBUGS AND BITBUGS April 16th, 2013
• The End of an Era: The Reagan-Thatcher Years, Goodbye and Good Riddance April 10th, 2013
• Hyman Minsky’s New Book on Ending Poverty: Jobs, Not Welfare April 8th, 2013
• News from the Front: Wall Street Takes Your Homes, Your Deposits, and Your Social Security (Updated) April 8th, 2013
• Why We’re Screwed, Two: The Love Of Money April 1st, 2013
• What Went Wrong in Cyprus: an MMT Perspective (updated) March 29th, 2013
• When Banksters Don’t Like the Law, Their Hired Hands in the Legislature Change It March 25th, 2013
• Brad DeLong to Paul Krugman: Yes Deficits DO Matter in MMT March 19th, 2013
• Eric Holder Makes it Official: Crime Is The Economic Model March 19th, 2013
• $100 Million Awaits First Deficit Hysterian to Prove Uncle Sam Can Run Out Of Money March 9th, 2013
• MMT: Wray on the Thom Hartmann Program March 9th, 2013
• Essential Viewing: Stephanie Kelton on Chris Hayes March 4th, 2013
• The Fiscal Cliff (Video) March 1st, 2013
• Six “Facts” About Our Debt: Corrections to Robert Solow’s Op-Ed February 28th, 2013
• The Economic Crisis: Causes, Consequences, and What’s Next February 24th, 2013
• Krugman is Right about Simpson-Bowles: The Buzzards Circle the Fiscal Cliff February 23rd, 2013
• How To Teach Money: Presentation at UNAM February 18th, 2013
• Elizabeth Warren: Why are Banksters Too Big For Trial? February 16th, 2013
• Yes Folks, Housing is Looking UP, For the One Percent Ownership Society February 12th, 2013
• Prospects for the State of the Union: More Risk-Taking, More Crime, and More Crises February 11th, 2013
• More News You Cannot Make Up: Donald Trump is NOT the Love Child of an Orangutan February 11th, 2013
• MMT, THE EURO, AND THE ROAD TO RECOVERY: Interview with L. Randall Wray February 9th, 2013
• Lord Turner Lets the Cat Out of the Bag: Print money to fund spending February 6th, 2013
• SOCIAL SECURITY’S UNFUNDED ENTITLEMENTS: MUCH ADO ABOUT NOTHING, OR LITTLE TO DO ABOUT SOMETHING? February 5th, 2013
• Intro to Modern Money Theory by Haiku Charlatan January 31st, 2013
• Banks Don’t Commit Fraud; Banksters Commit Fraud: Response to Yglesias January 31st, 2013
• Upcoming Conference at UNAM in Mexico City January 30th, 2013
• Global Financial Crisis Explained: The Theory of Social Costs January 30th, 2013
• MMT AND THE SUSTAINABILITY OF SOVEREIGN DEFICITS AND DEBT January 23rd, 2013
• FED MINUTES REVEAL FOMC WAS CLUELESS AS ECONOMY CRASHED IN 2007 January 18th, 2013
• MMT AND MATH SUSTAINABILITY OF SOVEREIGN DEFICITS (Part 3): Who Sets the Interest Rate? January 16th, 2013
• Kelton with Chris Hayes; Crazies vs Trillion Dollar Coins January 11th, 2013
• Bill Black and Matt Taibbi on Bankster Fraud January 11th, 2013
• More on the Bankster License to Steal (Homes) January 10th, 2013
• Breaking News: Citi Gets Treasury January 9th, 2013
• Update on Trillion Dollar Coin: Not Inflationary–it is a Duration Trade January 8th, 2013
• BREAKING NEWS: OCC AND FED Endorse Bank Fraud January 8th, 2013
• BOND VIGILANTES AND MATH SUSTAINABILITY OF FISCAL DEFICITS January 7th, 2013
• FDL Book Salon: Bill Black’s Introduction January 6th, 2013
• The USA’s First Trillion Dollar Platinum Coin! January 5th, 2013
• The good, bad and ugly of the Fiscal Cliff with Randy Wray on economic prospects and John Nichols on the political fallout and why Progressives like Tom Harkin voted no January 4th, 2013
• Does Obama Have A Platinum Coin Up His Sleeve? January 4th, 2013
• FDL BOOK SALON DISCUSSES MODERN MONEY THEORY, Hosted by William Black January 3rd, 2013
• Why Does Brad DeLong Worry About Paying For Tax Cuts? January 2nd, 2013
• Let’s Leap the Fiscal Cliff: Who’s Afraid of Deficits, Anyhow? January 1st, 2013
• More News That You Just Cannot Makeup December 30th, 2012
• TROLL FRIDAY: AMERICA, LOCKED AND LOADED December 21st, 2012
• More News From the Financial Front: We’re Not Out of the Woods Yet December 12th, 2012
• Lauren Lyster Learns MMT: Kelton On Capital Account TV Show December 12th, 2012
• AS GLOBAL GROWTH SLOWS, AUSTERIANS DEMAND MORE BLOOD-LETTING December 6th, 2012
• MMT and Full Employment: Conference in Finland December 5th, 2012
• The UK’s Future Jobs Fund Is Vindicated, provides some hope for a new Job Guarantee Program November 29th, 2012
• The Return of Full Employment Policy November 29th, 2012
• Krugman is Right; The Bond Vigilantes are Impotent November 25th, 2012
• You’ve Been Trumped: Essential Viewing for the 99% November 15th, 2012
• Fiscal Cliff and the Media November 14th, 2012
• DEMYSTIFYING QUANTITATIVE EASING November 12th, 2012
• More on the “Entitlements” Debate November 9th, 2012
• RATINGS AGENCIES STILL CLUELESS, THREATEN TO DOWNGRADE UNCLE SAM November 8th, 2012
• LIES, LIES, AND MORE LIES ABOUT SOCIAL SECURITY AND MEDICARE November 5th, 2012
• TROLL FRIDAY: RADICAL ROMNEY’S ECONOMIC PLAN November 2nd, 2012
• GLF Odds and Ends November 1st, 2012
• ANTIDOTES TO PETE PETERSON’S LIES October 30th, 2012
• Cross Border Lending and Imbalances in Euroland October 27th, 2012
• TROLL FRIDAY: Guest Post on the Environmental Consequences of Economic Development October 12th, 2012
• MMT, ARGENTINA, AND VIEWS ON INFLATION October 9th, 2012
• TAKE THE TROLL CHALLENGE! October 8th, 2012
• THE WORLD’S WORST CENTRAL BANKER October 5th, 2012
• Here’s the Most Shocking Statement in the Mother Jones Video September 19th, 2012
• Crony Capitalism, American Style September 16th, 2012
• How Does a Sovereign Currency Work? (Presentation) And Welcome to OWS Year 2 (Upcoming Call-in) September 14th, 2012
• Minsky and MMT in the News August 29th, 2012
• Why is the Obama Administration Incentivizing Fraud? August 19th, 2012
• MMT IN THE NEWS August 9th, 2012
• Is Modern Banking Nothing But a Criminal Enterprise? August 2nd, 2012
• MORE QE, LIBOR, BOND VIGILANTES , SOVEREIGN GOVERNMENTS, AND INTEREST RATE DETERMINATION August 1st, 2012
• ON THE SUPPOSED WEAKNESSES OF MMT: RESPONSE TO PALLEY July 26th, 2012
• WHO FIRST WARNED ABOUT THE EURO? THE WSJ WEIGHS-IN July 24th, 2012
• WHY WE’RE SCREWED July 23rd, 2012
• MMT AND THE EURO: Current Account Imbalances and the Euro Crisis Part 2 July 16th, 2012
• MMT AND THE EURO: Are Current Account Imbalances to Blame for the Euro Disaster? Part 1 July 12th, 2012
• BRAD DELONG: WE’RE ALL MINSKIANS NOW! June 30th, 2012
• Paul McCulley – MMT Won: Declare Victory But Be Magnanimous About It June 25th, 2012
• APOLOGIES: GREAT LEAP FORWARD WILL BE BACK SOON May 14th, 2012
• Martin Wolf’s Liquidity Traps and Free Lunches Through Fiscal Expansion May 1st, 2012
• A Modest Proposal to Stop Foreclosures April 26th, 2012
• Money and the Public Purpose: The Modern Money Theory Approach April 26th, 2012
• LOUISIANA SUES BANKSTERS UNDER RICO LAWS: Will the Biggest Banks Finally Go the Way of the Gambinos? April 21st, 2012
• DOES CHAIRMAN BERNANKE KNOW SQUAT ABOUT MONEY? April 19th, 2012
• 21st Annual Hyman P. Minsky Conference: Debt, Deficits, and Financial Instability April 13th, 2012
• Developing the ‘Financial Instability Hypothesis’: More on Hyman Minsky’s Approach April 11th, 2012
• KRUGMAN VERSUS MINSKY: Who Should You Bank On When It Comes to Banking? April 2nd, 2012
• WHY MINSKY MATTERS: Part One March 27th, 2012
• THE $7 TRILLION DOLLAR QUESTION THAT HAUNTS BANKS: When Will the Obama Administration Recognize that MERS Destroyed the Chain of Title Making All Foreclosures Suspect? March 16th, 2012
• SECRET DEALS, FORECLOSURE SETTLEMENTS, STRESS TESTS, AND VAMPIRE SQUID WHISTLE-BLOWERS: YOU JUST CAN’T MAKE THIS STUFF UP March 15th, 2012
• THE FINANCIAL CRISIS AND SHREK’S ONION OF FRAUD March 9th, 2012
• When is Foreclosure Theft? When the Mortgage is Recorded at MERS March 1st, 2012
• Will the Central Bank Bail-Outs Ever End? February 23rd, 2012
• Yes, Virginia, Foreclosure Is Theft February 22nd, 2012
• MMT On the Web February 21st, 2012
• LET’S MAKE A DEAL: The Bail-Out of Wall Street in Unusual and Exigent Circumstances February 16th, 2012
• State AGs Cave to Banksters February 9th, 2012
• WEEKEND ROUNDUP: MORE NEWS FROM THE FRONT February 4th, 2012
• $30 TRILLION TO PROMOTE CRONY CAPITALISM: The Fed’s Bail-Out of Wall Street February 3rd, 2012
• OBAMA DISCOVERS FRAUD (and other news from the Front) January 28th, 2012
• The Fetish for Liquidity (and Reform of the Financial System) January 26th, 2012
• MORTGAGE FRAUD REVISITED: Why Did the Fed Pump and Dump US Real Estate Markets? January 18th, 2012
• THE $29 TRILLION BAILOUT OF WALL STREET: Why Should Anyone Care About High Crimes and Misdemeanors? January 11th, 2012
• THE JOB GUARANTEE: Finally Moving Beyond Theory to Implementation January 4th, 2012
• The Job Guarantee as an Alternative to Enforced Idleness. But What Will They Do? Examples from the WPA December 26th, 2011
• PAYROLL TAX HOLIDAYS AND MMT: It’s a Funny World, News Recap on the Eve of Xmas December 21st, 2011
• The $29 Trillion Bail-Out: A Resolution and Conclusion December 14th, 2011
• BERNANKE’S OBFUSCATION ON THE 29 TRILLION DOLLAR BAILOUT: RESPONSE TO CRITICS December 11th, 2011
• BERNANKE’S OBFUSCATION CONTINUES: The Fed’s $29 Trillion Bail-out of Wall Street December 9th, 2011
• MORE SECRETS OF THE TEMPLE: Time to Demand Transparency and Accountability of Our Public Stewards November 30th, 2011
• Time to Abolish the Fed? Maybe Andrew Jackson Was Right, After All November 23rd, 2011
• UC Davis Chancellor Should be Fired Today November 22nd, 2011
• Occupy UC Davis: Chancellor asks Campus Cops to Fall on Swords November 21st, 2011
• A Photo to Spark a Movement: OWS at UC Davis November 21st, 2011
• OCCUPY WALL STREET: THE RIGHT SIDE OF HISTORY November 19th, 2011
• Warren Mosler’s Big Fat Greek MMT Exit Strategy November 17th, 2011
• EURO CRISIS IS SPREADING FROM PERIPHERY TO CENTER: The System Designed to Fail WILL Fail November 16th, 2011
• Time to Downsize the Fed November 13th, 2011
• Paul Krugman Does Modern Money Theory: Today’s Links November 12th, 2011
• Is This the End of the Faith-Based European Monetary Union? November 10th, 2011
• Imbalances? What Imbalances? A Dissenting View November 2nd, 2011
• Money and the Public Purpose: The Modern Money Theory Approach October 27th, 2011
• Recommendations for Weekend Reading October 22nd, 2011
• There Will Be Blood: The Vampire Squid of Wall Street Is Hemorrhaging October 19th, 2011
• Upcoming Event: The Second Annual Forum on Capital as Power October 16th, 2011
• MMT at OWS October 16th, 2011
• MMT-NEP Occupy Wall Street This Saturday October 13th, 2011
• The European Troika’s Rescue Plan Will Fail. Time to Choose an Endgame October 12th, 2011
• SLOGANS FOR SIGNS TO OCCUPY WALL STREET October 6th, 2011
• Are the Big Banks Insolvent? October 5th, 2011
• The Most Subversive Sign Seen at the “Occupy Wall Street” Protest October 4th, 2011
• Commodities Bubble Interview September 30th, 2011
• Euro Toast, Anyone? The Meltdown Picks Up Speed September 29th, 2011
• Is the Commodities Bubble a Case of Index Speculation by Money Managers? September 27th, 2011
• The Biggest Commodity Bubble of All Time: Response to Critics September 23rd, 2011
• The Biggest Bubble of All Time: Commodities Market Speculation September 22nd, 2011
• Fear of Flying September 21st, 2011
• Framing Modern Money September 16th, 2011
• Framing: Morality Trumps Reason When it Comes to Vampire Squids and Other Blood Suckers September 14th, 2011
• An Alternative to President Obama’s Jobs Plan September 8th, 2011
• Helicopter Ben: How Modern Money Theory Responds to Hyperinflation Hyperventilators, Part 3 September 7th, 2011
• Not Worth a Continental! How Modern Money Theory Replies to Hyperinflation Hyperventilators (Part 2) August 31st, 2011
• Zimbabwe! Weimar Republic! How Modern Money Theory Replies to Hyperinflation Hyperventilators (Part 1) August 24th, 2011
• Paul Krugman Still Gets it Wrong: Modern Money Theory August 16th, 2011
• Update on S&P and Fraud August 13th, 2011
• MMT as an Alternative to Austerity August 10th, 2011
• More on the Shock Doctrine August 5th, 2011
• The Budget Compromise: Congress Creates a Rube Goldberg Doomsday Machine August 2nd, 2011
• President Obama Weighs-In on the Debt Limit Debate July 26th, 2011
• Raise the Debt Limit or Abolish the Debt? July 20th, 2011
• Graphic for the Day July 14th, 2011
• Progressives and the Debt Limit Debate July 14th, 2011
• Shock Doctrine and the Debt Limit July 13th, 2011
• Lessons We Should Have Learned from the Global Financial Crisis July 6th, 2011