Senior Scholar L. Randall Wray is a professor of economics and director of the Center for Full Employment and Price Stability at the University of Missouri–Kansas City. His current research focuses on providing a critique of orthodox monetary policy, and the development of an alternative approach. He also publishes extensively in the areas of full employment policy and the monetary theory of production. 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 is the author of Money and Credit in Capitalist Economies, 1990, and Understanding Modern Money: The Key to Full Employment and Price Stability, 1998. He is also coeditor of, and a contributor to, Money, Financial Instability, and Stabilization Policy, 2006, and Keynes for the 21st Century: The Continuing Relevance of The General Theory, 2008. Other publications include:

• Introduction (with D. B. Papadimitriou) to Minsky’s Stabilizing an Unstable Economy and John Maynard Keynes, reissued 2008;
• “Lessons from the Subprime Meltdown,” Challenge, March–April 2008;
• “Veblen’s Theory of Business Enterprise and Keynes’s Monetary Theory of Production,” Journal of Economic Issues, June 2007;
• “Global Demographic Trends and Provisioning for the Future,” in D. B. Papadimitriou, ed., Government Spending on the Elderly, 2007; and
• “International Aspects of Current Monetary Policy,” in P. Arestis, M. Baddeley, and J. McCombie, eds., The New Monetary Policy: Implications and Relevance, 2006.

Wray taught for more than a decade at the University of Denver and has been a visiting professor at Bard College, the University of Bologna, and the University of Rome (La Sapienza). He received a B.A. from the University of the Pacific and an M.A. and a Ph.D. from Washington University, where he was a student of Minsky.

See all L. Randall Wray's Publications