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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.

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L. Randall Wray's Latest Articles | 57

Leakages and Potential Growth

Aug 7, 2009| 

In his book, Leakages, Treval Powers makes the outrageous claim that without leakages, the US economy could grow at a sustained rate of 13% annually. According to... Read »

Subway Tokens and Social Security

Aug 5, 2009| 

There is a wide-spread belief that Social Security surpluses must be “saved” for future retirees. Most believe that this can be done by accumulating a Trust... Read »

Time to Foreclose the Mortgage Companies

Jul 30, 2009| 1

One thing that puzzles many people is how on earth could a relatively small problem with subprime mortgage loans in America have generated a global financial and... Read »

Your Cash for Trash Redux

Jul 29, 2009| 

The Money Managers have come up with a new way to lose your money. Recall that Wall Street banks are sitting on, perhaps, a gazillion dollars worth of trash assets,... Read »

Washington Finally Proposes Real Help to Deal with Foreclosures

Jul 19, 2009| 

The Washington Post reported on Friday that Washington is finally considering meaningful steps to deal with the on-going foreclosure crisis. The article reports: “A... Read »

BerkShares, Buckaroos, and Bear Dollars: What Makes a Local Currency Tick?

Jul 13, 2009| 

Some commentators have argued that the proposed California “warrants” are similar to local currencies (see, e.g., Thoma). In this piece I discuss experiments... Read »

The Fed As Super Duper Regulator? Will We be Duped Again?

Jul 10, 2009| 

Treasury Secretary Geithner is floating a plan that would consolidate more power in the hands of the Fed. The idea is that because it failed so miserably over the... Read »

Finally Some Good News Out of California

Jul 10, 2009| 

Finally, there is some good news out of California: SACRAMENTO — State vendors and contractors could use their government-issued IOUs to pay state taxes, fees... Read »

Time For the Third Stimulus Package

Jul 9, 2009| 

According to Paul Krugman “voices calling for stronger stimulus are, may I say, sorta kinda respectable — several Nobelists in the bunch, plus a large fraction... Read »

The Carnage Continues: Time To Ramp Up the Stimulus

Jul 7, 2009| 

Some like to see green shoots everywhere, but that is becoming an increasingly audacious hope. Here are four related stories from the July 5th edition of the New... Read »

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