Public Policy Brief Highlights No. 96A | October 2008

The Commodities Market Bubble

Money Manager Capitalism and the Financialization of Commodities

In a new public policy brief, Senior Scholar L. Randall Wray shows how money manager capitalism—characterized by highly leveraged funds seeking maximum returns in an environment that systematically underprices risk—has destabilized one asset class after another, with commodities being simply the latest. Policymakers must fundamentally change the structure of our economic system and reduce the influence of managed money, Wray argues, in order to break the speculative boom-and-bust cycle.

Publication Highlight

Book Series
Classical Economics Today: Essays in Honor of Alessandro Roncaglia
Edited by Marcella Corsi, Jan Kregel, and Carlo D'Ippoliti
Author(s): Jan Kregel
March 2018

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