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L. Randall Wray

Affiliation: University of Missouri

L. Randall Wray, Ph.D. is Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy Economics Institute.

His research expertise is in: financial instability, macroeconomics, and full employment policy.

Visit: L. Randall Wray's Page




L. Randall Wray's Latest Articles | 57

The Time Has Come for Direct Job Creation

Oct 24, 2009| 

According to an ILO report[15] issued before the global economic crisis hit, even though more people were working than ever before, the number of unemployed was... Read »

The Financialization of Health and Everything Else in the Universe

Oct 12, 2009| 

In the previous two blogs I have argued that extending healthcare insurance is neither desirable nor will it reduce healthcare costs. Indeed, healthcare insurance... Read »

Healthcare Diversions (Part II): We Need Less Health Insurance, Not More

Oct 1, 2009| 

In my last blog, I argued that the benefits of extending health insurance coverage are probably overstated and are not likely to reduce health care costs or improve... Read »

Healthcare Diversions (Part I): The Elephant in the Room

Sep 24, 2009| 

I have tried to stay clear of the current healthcare debate because all sides appear to be so far from any sensible policy that I remain indifferent to the outcome.... Read »

Selling Death: Wall Street’s Newest Bubble

Sep 7, 2009| 4

When Wall Street’s commodities bubble crashed last year, I asked whether the next bubble might be in securitized body parts. Wall Street would search the world... Read »

Fed Profits From the Bailout? Don’t Count Those Chickens Before They Hatch

Sep 3, 2009| 2

A flurry of reports appears to indicate simultaneously that the government’s bailout of Wall Street is working to bring banks back to life, and that the Fed is... Read »

Money as a Public Monopoly

Aug 27, 2009| 

What I want to do in this blog is to argue that the reason both theory and policy get money “wrong” is because economists and policymakers fail to recognize... Read »

A Primer on Government Surpluses

Aug 15, 2009| 

[via CFEPS] What is a federal government surplus? When the federal government’s revenue exceeds its spending over the course of a year, it is running a budget... Read »

Social Security: Truth or Useful Fictions?

Aug 12, 2009| 

[via CFEPS] I. SOCIAL SECURITY IS AN ASSURANCE , NOT A PENSION PLAN Social Security is an intergenerational assurance plan. Working generations agree to take care... Read »

Teaching the Fallacy of Composition: The Federal Budget Deficit

Aug 10, 2009| 3

[via CFEPS] One of the most important concepts to be taught in economics is the notion of the fallacy of composition: what might be true for individuals is probably... Read »

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