Publications

101 publications found, searching for 'Money '

• Working Paper No. 662
  March 28, 2011

  The Financial Crisis Viewed from the Perspective of the “Social Costs” Theory

  L. Randall Wray
  Abstract

  This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein…more

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• Working Paper No. 658
  March 15, 2011

  Keynes after 75 Years

  L. Randall Wray
  Abstract

  In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in which money is neutral, at least in the long run; and the…more

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• Working Paper No. 656
  March 05, 2011

  Money in Finance

  L. Randall Wray
  Abstract

  This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in…more

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• Working Paper No. 647
  December 24, 2010

  Money

  L. Randall Wray
  Abstract

  This paper advances three fundamental propositions regarding money: (1) As R. W. Clower (1965) famously put it, money buys goods and goods buy money, but goods do not buy goods….more

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• Working Paper No. 603
  June 18, 2010

  Does Excessive Sovereign Debt Really Hurt Growth?

  L. Randall Wray and Yeva Nersisyan
  Abstract

  The worst global downturn since the Great Depression has caused ballooning budget deficits in most nations, as tax revenues collapse and governments bail out financial institutions and attempt countercyclical fiscal…more

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