L. Randall Wray

L. Randall Wray is a Senior Scholar at the Levy Economics Institute at Bard College and a professor of economics at the University of Missouri–Kansas City. His current research focuses on providing a critique of orthodox monetary theory and policy, and the development of an alternative approach. He also publishes extensively in the areas of full employment policy and, more generally, fiscal policy. With President Dimitri B. Papadimitriou, he is working to publish, or republish, the work of the late financial economist Hyman P. Minsky, and is using Minsky’s approach to analyze the current global financial crisis.

Wray is the author of Money and Credit in Capitalist Economies, 1990; Understanding Modern Money: The Key to Full Employment and Price Stability, 1998; and Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, 2012. He is also coeditor of, and a contributor to, Money, Financial Instability, and Stabilization Policy, 2006, and Keynes for the 21st Century: The Continuing Relevance of The General Theory, 2008.

Wray taught for more than a decade at the University of Denver and has been a visiting professor at Bard College, the University of Bologna, and the University of Rome (La Sapienza). He received a BA from the University of the Pacific and an MA and a Ph.D. from Washington University, where he was a student of Minsky.