Great Leap Forward


Some of you might be interested in participating in this discussion of my new book. Here are the details:

{Update: go here to see how to participate:}


At 5:00pm ET/ 2:00pm PT this Saturday, January 5, 2013 L. Randall Wray will be joining us to discuss his new book, Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems.
Cheers, Jane Hamsher; Follow me on twitter:

On Saturday, January 5, 2013 5:00pm ET

Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
In a challenge to conventional views on modern monetary and fiscal policy, this book presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.
L. RANDALL WRAYis a professor of Economics at the University of Missouri-Kansas City, USA, as well as Research Director, the Center for Full Employment and Price Stability, and Senior Scholar at the Levy Economics Institute of Bard College, New York. A student of Hyman P. Minsky while at Washington University in St. Louis, 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). He is the editor of Credit and State Theories of Money (Edward Elgar 2004) and the co-editor of Contemporary Post Keynesian Analysis (Edward Elgar 2005), Money, Financial Instability and Stabilization Policy (Edward Elgar 2006), and Keynes for the twenty-first century: The Continuing Relevance of The General Theory, Palgrave, 2008. Wray is also the author of numerous scholarly articles in edited books and academic journals, including the Journal of Economic Issues, Cambridge Journal of Economics, Review of Political Economy, Journal of Post Keynesian Economics, Economic and Labour Relations Review, Economie Appliquée, and the Eastern Economic Journal. 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 University of Rome, the University of Paris, and UNAM (Mexico City). He was the Bernardin-Haskell Professor, UMKC, Fall 1996, and joined the UMKC faculty as Professor of Economics, August 1999.

Hosted by William Black.  

9 Responses to “FDL BOOK SALON DISCUSSES MODERN MONEY THEORY, Hosted by William Black”

My WagJanuary 5th, 2013 at 12:28 am

Yay…finally some fiscal or is it monetary, sanity.

As Thomas Edison astutely observed:
“If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good, also. The difference between the bond and the bill is that the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way.
It is absurd to say that our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people.”"

We need MMT. Enough with Banksters and financial manipulators

DenJanuary 6th, 2013 at 1:26 am

I was commenting on the FDL Book Salon and asked about the possible causes of the serious inflation of the early 1970s.

You replied that you had written a paper on the Levy Institute site.
*I have a paper at demonstrating this*

I could not find it. What is the title, please

L. Randall Wray L. Randall WrayJanuary 6th, 2013 at 1:43 am

can you look for something like “cpi as measure of inflation”. that is what i remember. a policy brief, not a note

LRWrayMarch 1st, 2013 at 2:02 pm

Hi Basil: Hmmm. I'll ask Palgrave. Or perhaps you could ask JEI or another jnl if they've rec'd a copy that you might use to write a review?

buy college booksApril 16th, 2013 at 10:35 am

Using of money for exchanging solution is best way in today's as it had not once a time while people was ancient. Money transaction is easy to exchange of our requirement as well as buying or selling solution. Money work like as via for our exchange solution thus people day by day had become interested to money exchange. L. Randall Wray's addition on Modern Money Theory is awesome and educative though I will collect of the book for knowing more about sovereign monetary systems.