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This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.
- Sales Rank: #1854778 in Books
- Published on: 2015-09-23
- Released on: 2015-09-23
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .75" w x 5.50" l, 1.00 pounds
- Binding: Hardcover
- 306 pages
Review
'This book paves the way for another revolution in macroeconomics. 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
'Wray debunks so many of the destructive beliefs that have contributed to our current economic and social malaise. This is a primer that should not only become mandatory reading for students of economics, but any policy maker who truly wants to deal with the grave disasters engendered from years of 'reading from the wrong playbook'.' Marshall Auerback, Director of the Economists for Peace and Security (epsusa.org) and a research associate at the Levy Institute
About the Author
L. Randall Wray is a professor of Economics at the University of Missouri-Kansas City, USA, and Senior Scholar at the Levy Economics Institute of Bard College, New York, USA. 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 Why Minsky Matters (2015), Understanding Modern Money: The Key to Full Employment and Price Stability (1998) and Money and Credit in Capitalist Economies (1990). He is the editor of Credit and State Theories of Money (2004) and the co-editor of Contemporary Post Keynesian Analysis (2005), Money, Financial Instability and Stabilization Policy (2006), and Keynes for the Twenty-First Century: The Continuing Relevance of The General Theory (2008). Wray is also the author of numerous scholarly articles in edited books and academic journals. He is the co-editor of the Journal of Post Keynesian Economics. He has been a visiting professor at the University of Rome, the University of Paris, the University of Bergamo, the University of Bologna, and UNAM (Mexico City). He was the Bernardin-Haskell Professor, UMKC, Fall 1996, and joined the UMKC faculty as Professor of Economics, August 1999.
Most helpful customer reviews
1 of 1 people found the following review helpful.
and he does a good job of explaining how it works in a modern ...
By Amazon Customer
In my opinion it is important for people to understand how money, credit, and debt really work. Common "common sense" understanding about such things as national debt actually harm our economy. This book is not a quick read, especially if the reader takes the time to let the ideas, the facts presented seep into consciousness. However, Randall Wray is a recognized authority on the concept of modern money, and he does a good job of explaining how it works in a modern economy. It's not what people assume, and until we get this right we will continue to economically struggle as a country. Blue Pill or Red Pill ?
0 of 0 people found the following review helpful.
The One Econ Book to Read
By George R. Coleman
This is the economics book I should have used in college! It correctly explains the workings of a sovereign government that issues its own currency and only borrows in that currency. Samuelson's version was physically elegant, but conceptually incorrect. His errors permeate current policy choices at enormous loss of both growth and jobs. I give this book as a gift to friends.
0 of 0 people found the following review helpful.
A must read
By Agustin J Diodati
A must read for anyone interested in macroeconomics.
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