Category Archives: L. Randall Wray

Why Minsky Matters: An Introduction to the Work of a Maverick Economist

Posted on January 9, 2016 by | 4 comments

Victoria Bateman has a review of Randall Wray’s new book “Why Minsky Matters: An Introduction to the Work of a Maverick Economist” over at Times Higher Education. You can read the review here.

4 Comments

Posted in L. Randall Wray

Tagged

DEBT-FREE MONEY AND BANANA REPUBLICS, PART TWO

Posted on December 23, 2015 by | 37 comments

By L. Randall Wray

My previous blog sparked a lot of discussion, especially over at Naked Capitalism. I do pity Yves Smith! There’s enough nonsense in the commentary to populate a large nation.

As I have argued, it is very hard to figure out what the debt-free money folks want as they are confused on the accounting, vague on the terminology, and rarely provide details on their proposal. However, a reader has directed me to a fine published article that has mostly got the accounting right, lays out a detailed proposal, and contrasts the proposal against alternatives.

Continue reading →

37 Comments

Posted in L. Randall Wray

Tagged , ,

DEBT-FREE MONEY AND BANANA REPUBLICS

Posted on December 19, 2015 by | 42 comments

By L. Randall Wray

Some time ago, I labeled the “debt-free money” campaign a non sequitur in search of a policy. (See here.) However, this non sequitur refuses to die. I went on to joke that if they want a debt-free money, they ought to propose that government issue bananas as currency.

I frequently am asked to do interviews and I almost always accept them. However, when I was asked last week to participate in a radio show devoted to debt-free money, I struggled mightily to get out of it. As you’ll see, the program’s producer took my idea of banana republics and ran with it. I thought readers might get a kick out of this exchange (the producer’s emails are in italics, my responses are in bold). After the exchange, I’ll summarize my objections to the notion of debt-free money.

Continue reading →

42 Comments

Posted in L. Randall Wray

Tagged , ,

Randy Wray Discusses his book, Why Minsky Matters, on the Radio

Posted on December 6, 2015 by | Comments Off on Randy Wray Discusses his book, Why Minsky Matters, on the Radio

NEP’s Randy Wray will be interviewed tonight on Bob Brinker’s nationally syndicated ABC talk radio show Money Talk, Sunday December 6th at 6:15pm ET for around 30 minutes. Wray will discuss his new book Why Minsky Matters: An Introduction to the work of a maverick economist, Princeton University Press.

The show airs live on 200 ABC affiliates including all major markets. Former guests include Alan Greenspan, Sheila Bair, Alan Blinder, Paul O’Neill, William Isaac, Peter Thiel, Joseph Stiglitz, David Wessel, Gretchen Morgenson, Andrew Ross Sorkin, Nassim Nicholas Taleb, Barton Biggs, Niall Ferguson, David Cay Johnston, Neil Irwin, John Bogle and John Zogby, just to name a few.

Here is the list of stations that carry the show.

Comments Off on Randy Wray Discusses his book, Why Minsky Matters, on the Radio

Posted in L. Randall Wray

Tagged

Review: Another “Minsky moment” may be on the way

Posted on December 4, 2015 by | 2 comments

Edward Chancellor over at Reuters has published a review of Randy Wray’s new book on Minsky, “Why Minsky Matters: An Introduction to the Work of a Maverick Economist”. You can read the review here.

2 Comments

Posted in L. Randall Wray

MMT and Bernie Sanders

Posted on November 20, 2015 by | 7 comments

L. Randall Wray

Yesterday Senator Bernie Sanders gave an important speech in which he invoked President Roosevelt’s “second bill of rights” in defense of his platform. As Bernie rightly pointed out, all of Roosevelt’s New Deal social programs to which we have become accustomed, were tagged as “socialism”—just as pundits are branding Bernie’s proposals as dangerous socialist ideas. You can see Bernie’s prepared remarks here.

Just before Bernie’s speech, I was asked to do an interview with Alex Jensen, on TBS eFM’s “This Morning” English radio program in Seoul, Korea. I was sent a list of questions and jotted down very brief responses. Unfortunately, in our radio interview we were only able to get through a few of these. You can listen to the interview (uses iTunes) here. My interview is #8, Name: 1119 Issue Today with Professor L.R. Wray

Continue reading →

7 Comments

Posted in L. Randall Wray

Tagged , ,

UMKC professor among handful of economist to predict Eurozone fiscal downturn

Posted on September 23, 2015 by | Comments Off on UMKC professor among handful of economist to predict Eurozone fiscal downturn

Video and article over at Kansas City’s KSHB highlighting NEP’s Randy Wray’s analysis of the problems with the European Monetary Union and his predictions that it would lead to the European crisis. You can view the video and read the article here.

Comments Off on UMKC professor among handful of economist to predict Eurozone fiscal downturn

Posted in L. Randall Wray

CHINA’S STOCK MARKET TUMBLE AND THE OUTLOOK FOR THE GLOBAL ECONOMY

Posted on August 26, 2015 by | 10 comments

Interview of L. Randall Wray by Dasha Chernyshova, Moscow reporter for the Sputnik News Agency

Q: In simple terms, how is the slowdown in China affecting the Eurozone?

A: I think the impact is overstated. China is still growing relatively rapidly. Her consumers enjoy rising incomes. They want high quality foreign manufactured goods—prestige goods, luxury goods. Over the short run, the Eurozone will still enjoy positive growth of Chinese demand. The bigger impact could be on commodities exporters (Russia, Brazil). China is learning how to economize on use of natural resources in her attempt to move toward sustainable growth.

Continue reading →

10 Comments

Posted in L. Randall Wray

Tagged ,

MMT Primer in Italian

Posted on August 13, 2015 by | Comments Off on MMT Primer in Italian

For all our Italian speaking visitors, our friends over at RETE MMT have undertaken the arduous task of translating Randy Wray’s MMT Primer into Italian. The project is a work in progress and not all posts have been translated as yet. As they add to their list of translated posts, we will update this list to reflect their accomplishments. The links will take you directly to the relevant post on RETE MMT.

Continue reading →

Comments Off on MMT Primer in Italian

Posted in L. Randall Wray

Tagged , , ,

Teoría Monetaria Moderna – Kindle Version

Posted on August 7, 2015 by | Comments Off on Teoría Monetaria Moderna – Kindle Version

For our spanish speaking (and reading) friends, the spanish version of Randy Wray’s book Teoría Monetaria Moderna is now available as a Kindle e-book. The details are available here.

Comments Off on Teoría Monetaria Moderna – Kindle Version

Posted in L. Randall Wray