About

This website offers policy advice and economic analysis from a group of professional economists, legal scholars, and financial market practitioners . We started this blog in order to weigh in on the serious challenges facing the global economy following the financial meltdown in 2007. We aim to provide an accurate description of the cause(s) of the current meltdown as well as some fresh ideas about how policymakers — here and abroad — should address to the continued weakness in their economies. Our approach, which has been dubbed “Modern Money Theory” or “The Kansas City Approach,” builds on the work of Abba P. Lerner, John Maynard Keynes and Hyman P. Minsky. Above all, we are careful to provide analyses and policy recommendations that are applicable under a modern, fiat money system.

Meet the Bloggers

Stephanie Kelton, Ph.D. is Associate Professor of Economics at the University of Missouri-Kansas City, Research Scholar at The Levy Economics Institute and Director of Graduate Student Research at the Center for Full Employment and Price Stability. She is creator and editor of New Economic Perspectives. Her research expertise is in: Federal Reserve operations, fiscal policy, social security, health care, international finance and employment policy.  Follow her at twitter.com/deficitowl.

L. Randall Wray, Ph.D. is Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy Economics Institute. His research expertise is in: financial instability, macroeconomics, and full employment policy.

William K. Black, J.D., Ph.D. is Associate Professor of Law and Economics at the University of Missouri-Kansas City. Bill Black has testified before the Senate Agricultural Committee on the regulation of financial derivatives and House Governance Committee on the regulation of executive compensation. He was interviewed by Bill Moyers on PBS, which went viral. He gave an invited lecture at UCLA’s Hammer Institute which, when the video was posted on the web, drew so many “hits” that it crashed the UCLA server. He appeared extensively in Michael Moore’s most recent documentary: “Capitalism: A Love Story.” He was featured in the Obama campaign release discussing Senator McCain’s role in the “Keating Five.” (Bill took the notes of that meeting that led to the Senate Ethics investigation of the Keating Five. His testimony was highly critical of all five Senators’ actions.) He is a frequent guest on local, national, and international television and radio and is quoted as an expert by the national and international print media nearly every week. He was the subject of featured interviews in Newsweek, Barron’s, and Village Voice.

Marshall Auerback has over 28 years of experience in investment management. He is currently a portfolio strategist with Madison Street Partners, LLC, a Denver based investment management group, a Fellow with the Economists for Peace and Security, and a Research Associate for the Levy Institute. He is a frequent contributor to New Economic Perspectives.

Pavlina R. Tcherneva, Ph.D. is Assistant Professor of Economics at Franklin and Marshall College, Research Scholar at The Levy Economics Institute, and Senior Research Associate at the Center for Full Employment and Price Stability. Her research expertise is in: fiscal and monetary policy, direct job creation, and the economics of gender.

Scott Fullwiler, Ph.D. is Associate Professor of Economics and James A. Leach Chair in Banking and Monetary Economics at Wartburg College, Research Associate at the Center for Full Employment and Price Stability, and Director of the Social Entrepreneurship Program at Wartburg College. His research expertise is in: central bank operations, Treasury operations, and monetary economics.

 
Eric Tymoigne, Ph.D. is Assistant Professor of Economics at Lewis and Clark College and Research Associate at The Levy Economics Institute. His research expertise is in: central banking, monetary economics, and macroeconomics.

Mitch Green is a Ph.D. student at the University of Missouri, Kansas City.  He earned his B.S. in Economics from Portland State University in 2010.  His research interests include:  macroeconomics, institutional and post-Keynesian economics, and social network analysis.  As a native of the Pacific Northwest, he enjoys a number of leisure activities to include:  skiing, biking, running, golfing, gardening, and coffee drinking.

Robert E. Prasch is Professor of Economics at Middlebury College where he teaches Monetary Theory and Policy, Macroeconomics, American Economic History, and the History of Economic Thought. He is the author of over 100 academic articles, book chapters, book reviews, in addition to multiple editorials and interviews in newspapers, radio, and on-line media including The Huffington Post and Common Dreams.  The most recent of his three authored or co-edited books is How Markets Work: Supply, Demand and the ‘Real World’ (Edward Elgar, 2008).  He has also served on the editorial boards of the Review of Political Economy and the Journal of Economic Issues, and as president of the Association for Evolutionary Economics (AFEE).  Previous to Middlebury College, he taught at Vassar College, the University of Maine, and San Francisco State University.  His PhD in economics is from the University of California, Berkeley.

Dan Kervick has a PhD in Philosophy from the University of Massachusetts, and is an active independent scholar specializing in the philosophy of David Hume. He also does research in decision theory and analytic metaphysics. He currently works in the book industry for the Baker & Taylor Corporation, and lives in Bow, New Hampshire.

Rob Parenteau, CFA, is sole proprietor of MacroStrategy Edge, editor of the Richebacher Letter, and a research associate with the Levy Economics Institute.