Senior Scholar L. Randall Wray is a professor of economics at Bard College. 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’s most recent book is Why Minsky Matters: An Introduction to the Work of a Maverick Economist (Princeton University Press, 2016).
Wray is the author of Money and Credit in Capitalist Economies: The Endogenous Money Approach (Edward Elgar, 1990), Understanding Modern Money: The Key to Full Employment and Price Stability (Edward Elgar, 1998), The Rise and Fall of Money Manager Capitalism: Minsky’s Half Century from World War Two to the Great Recession (with É. Tymoigne; Routledge, 2013), Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems (Palgrave Macmillan, 2012; 2nd rev. ed., 2015), Macroeconomics (with William Mitchell and Martin Watts; Red Globe Press, 2019), and A Great Leap Forward: Heterodox Economic Policy for the 21st Century (Academic Press, 2020). He is also coeditor of, and a contributor to, Money, Financial Instability, and Stabilization Policy (Edward Elgar, 2006) and Keynes for the 21st Century: The Continuing Relevance of The General Theory (Palgrave Macmillan, 2008).
Wray taught at the University of Missouri–Kansas City from 1999 to 2016 and at the University of Denver from 1987 to 1999, and has been a visiting professor at the Universities of Paris and Rome (La Sapienza). He holds 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. He has recently completed a Fulbright Specialist Grant at the Tallinn University of Technology in Estonia.