Basics of Macro Accounting Spending by Issuer of Sovereign Currency Basics of the Operation of Domestic Monetary Systems Fiscal Operations Alternative Policy for Sovereign Currencies Modern Money and Macro Stabilizers What is Money? Conclusions on the Nature of Money
L. RANDALL WRAY is 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.
'This book paves the way for another revolution in macroeconomics. Building on the insights of the most important thinkers of the 20th Century, Wray shows us how an economy with modern money works and, more importantly, how it can be used to lift us to a more prosperous tomorrow.' - Stephanie Kelton, University of Missouri-Kansas City
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