Randy Wray — A Better Way to Think about the “Twin Deficits”

(These remarks will be delivered today at the UBS European Conference in London.)

Multiplier Effect
A Better Way to Think about the “Twin Deficits”
L. Randall Wray | November 13, 2018

Randy Wray — Modern Money Theory: How I Came to MMT and What I Include in MMT

I was asked to give a short presentation at the MMT conference. What follows is the text version of my remarks, some of which I had to skip over in the interests of time. Many readers might want to skip to the bullet points near the end, which summarize what I include in MMT....

Need I say that this is a must-read in full.

Multiplier Effect
Modern Money Theory: How I Came to MMT and What I Include in MMT
L. Randall Wray | Professor of Economics, Bard College

Sam Williams — Modern Money (Pt 3)

In this post, I will contrast the analysis of foreign trade found in Professor L. Randall Wray’s book “Modern Money Theory” and contrast it to the analysis of foreign trade that logically emerges from Marx’s theory of commodities, money and capital....

A Critique of Crisis Theory
Modern Money (Pt 3)

Sam Williams

Michael Stephens — Watch Live: A New New Deal and the Job Guarantee

Today at the New School, L. Randall Wray and Stephanie Kelton take part in a public workshop organized by the National Jobs for All Coalition that is focused on developing a “A New ‘New Deal’ for NYC and the USA....

Multiplier Effect
Watch Live: A New New Deal and the Job Guarantee
Michael Stephens

Eric Lonergan — Debt-free money: A brief reply to Randall Wray

FYI.

Positive Money
Debt-free money: A brief reply to Randall Wray
Eric Lonergan (Guest Author)

Brian Romanchuk — Money As Debt

Continuation of debate in progress.

Bond Economics
Money As Debt
Brian Romanchuk

Ed Lonergan — Debt-free money: A brief reply to Randall Wray

Seems he missed the point.

Philosophy of Money
Debt-free money: A brief reply to Randall Wray

Ed Lonergan

ht Ralph Musgrave

Controversy over Keynes, Minsky and Randy Wray's Why Minsky Matters

The Enlightened Economist

Mainstream macro and Minsky the maverick
Diane Coyle | freelance economist and a former advisor to the UK Treasury. She is a member of the UK Competition Commission and is acting Chairman of the BBC Trust, the governing body of the British Broadcasting Corporation

Prime
Diane Coyle finds Minsky, but misses Keynes
Geoff Tily

The Enlightened Economist

Reading Keynes, modernising macro, and modelling
Diane Coyle | freelance economist and a former advisor to the UK Treasury. She is a member of the UK Competition Commission and is acting Chairman of the BBC Trust, the governing body of the British Broadcasting Corporation


Diane Coyle seems to be under the mainstream spell cast by Paul Samuelson in his econometric bastardization of Keynes.

Reuters — Edward Chancellor reviews Randy Wray's Why Minsky Matters

Forget the living canon of great economists – Paul Krugman, Joe Stiglitz, Larry Summers and the rest. Hyman Minsky was the only contemporary thinker to have predicted with uncanny precision the global financial crisis. This is no small achievement since Minsky died more than a decade before Lehman Brothers filed for bankruptcy. Minsky’s unorthodox vision of capitalism, with its emphasis on the central role of finance and the system’s inherent tendency to crash, was vindicated by the subprime crisis. 

In a new book, “Why Minsky Matters: An Introduction to the Work of a Maverick Economist,” L. Randall Wray suggests that he would have approved of policymakers’ initial response to the crisis precipitated by Lehman’s collapse in the fall of 2008. However, by now, Minsky would be fretting that another “Minsky moment” is not far away and pondering what lies ahead....

Reuters
Review: Another “Minsky moment” may be on the way
By Edward Chancellor

ht Michael Stephens at Multiplier Effect

Brian Romanchuk — Book Review: Why Minsky Matters (Wray)

L. Randall Wray, one of economist Hyman Minsky's students, and one of academics behind the development of Modern Monetary Theory (MMT) provides us with an introduction to Minsky's thought in "Why Minsky Matters: An Introduction to the Work of a Maverick Economist." As the title suggests, it is not an attempt to explain the details of the evolution of Minsky's theories over his career, rather it is an attempt to relate his theory to contemporary events. The book is aimed at those who are unfamiliar with his work, and "post-Keynesian" economics in general. (I am using "post-Keynesian" here as a wide term; Minsky would probably not fit within a narrower definition of "post-Keynesian".)

Bond Economics
Book Review: Why Minsky Matters (Wray)
Brian Romanchuk

Randy Wray — Modern Money Theory: Why the EMU is Designed to Fail (Presentation in Madrid)

Here is a link to a video for one of my presentations in Spain.

Economonitor — Great Leap Forward
Modern Money Theory: Why the EMU is Designed to Fail (Presentation in Madrid)
L. Randall Wray | Professor of Economics, University of Missouri at Kansas City

Michael Stephens — Working Paper Roundup 12/15/2014

Outside Money: The Advantages of Owning the Magic Porridge PotL. Randall Wray

Multiplier Effect
Working Paper Roundup 12/15/2014
Michael Stephens

Randy Wray — A Twelve Step Program To Restore Prosperity: The Bernie Sanders Plan

Here’s a summary of the plan Bernie Sanders has set out, along with my comments (in italics).

Economonitor — Great Leap Forward
A Twelve Step Program To Restore Prosperity: The Bernie Sanders Plan

L. Randall Wray | Professor of Economics, University of Missouri at Kansas City

Merijn Knibbe — Links, the Levy Institute was right edition

Dimitri Papadimitriou, Edward Chilcote and Genarro Zezza, Eric Tymoigne, L. Randall Wray and Dimitri Papadimitriou, Frederic Lee

Real-World Economics Review Blog
Links, the Levy Institute was right edition
Merijn Knibbe