Publications

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

Testimony
Statement of Senior Scholar L. Randall Wray to the House Budget Committee, US House of Representatives
Reexamining the Economic Costs of Debt
Author(s): L. Randall Wray, Yeva Nersisyan
November 2019

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