Tag Archives: L. Randall Wray

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By L. Randall Wray The drumbeat is quickening as Hillary’s surrogates insist that Bernie’s supporters fall in line. Bernie’s chances are said to be hopeless. Continuing to run only plays into the hands of truly despicable Republicans. And forget about trying to pressure the Democratic Party’s establishment to let Bernie play a role in formulating the convention’s platform. That also would just play into the hands of the Republicans. Time to unite behind Hillary, and let her move further to...

By L. Randall Wray Bernie Sanders has an ambitious agenda. Too ambitious, insist his critics (including, especially, surrogates of Hillary Clinton). He would break up the big banks, reverse the redistribution of income and wealth to the top (that accelerated under the triple whammy of the Bush-Clinton-Bush administrations), restore and improve our nation’s infrastructure, and provide employment and better wages at the bottom. The critics proclaim that his programs cannot “pay for...

This weekend: March 11th – 15th 2016, there are events taking place at the Village East Cinemas in New York including a book signing by Randy Wray on the 15th as well as screening of the movie. You can get all the details and list of guest appearances from Village East Cinema’s website here. Flyer for the book signing is after the jump. Why Minsky Matters Events [embedded content] [Translate]

By L. Randall Wray In Part Three I argued that the government issues currency as its liability and imposes tax liabilities on its subjects/citizens that can be paid in that currency. When taxes are paid, both the government and its taxpayers are “redeemed”. I cited Innes’s argument that the universal law of credit is that the issuer of a debt must take it back. This is the fundamental notion behind redemption of debts. To be sure, debt is much older than money. No human has ever...

Sorry that it has taken me a while to get back to my multi-part series on debt-free money. This is the third part of the current series, although I had previously written several other blogs on the related topics of debt-free money, positive money, and 100% money. See links at the bottom. This post will focus on the concept of “redemption” as the most fundamental requirement of indebtedness. This seems to confuse readers. For example, Eric Lonergan calls this a “fantastic linguistic...

Randy Wray and Bill Black appear on “Clearing the Fog.” You can listen to the podcast here. Bill, of the newly formed Bank Whistleblowers United, speaks about the plan they have outlined to instill the rule of law on Wall Street and end fraud with the hope of mitigating the effects of the next financial crisis. Randy, an expert in financial instability and macroeconomics, speaks about alternatives to the current financial system that would bring greater stability. [Translate]

Below are links to a couple of reviews of Randy Wray’s latest book – Why Minsky Matters: An introduction to the work of a maverick economist. What Would Minsky Do Now? A review by Laurence B. Siegel at ValueWalk A review by William J. Bernstein for CFA Pubs. [Translate]

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

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,...