L. Randall Wray

Professor of Economics and Research Director
Center for Full Employment and Price Stability at the University of Missouri-Kansas City

L. Randall Wray, Ph.D. is a Professor of Economics and Research Director for the Center for Full Employment and Price Stability at the University of Missouri-Kansas City. He is also a Senior Scholar at the Levy Economics Institute of Bard College, New York.

Dr. 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, the University of Rome (La Sapienza), the University of Paris, and UNAM (Mexico City). In 2011, Dr. Wray was invited to serve on a panel of experts to help Sen. Bernie Sanders (I-Vt.) draft legislation to reform the Federal Reserve alongside Nobel Prize winner Joseph Stiglitz, Jeffrey Sachs, Robert Reich, James K. Galbraith, Dean Baker, and Robert Johnson.

Dr. Wray is the author of numerous scholarly articles in edited books and academic journals, including the Journal of Economic Issues, Cambridge Journal of Economics, Review of Political Economy, Journal of Post Keynesian Economics, Economic and Labour Relations Review, Economie Appliquée, and the Eastern Economic Journal. He is the author of Understanding Modern Money: The Key to Full Employment and Price Stability (Elgar, 1998) and Money and Credit in Capitalist Economies (Elgar 1990), and the editor of Credit and State Theories of Money (Edward Elgar 2004) and the co-editor of Contemporary Post Keynesian Analysis (Edward Elgar 2005), Money, Financial Instability and Stabilization Policy (Edward Elgar 2006), and Keynes for the Twenty-First Century: The Continuing Relevance of The General Theory, Palgrave, 2008.

Dr. Wray’s current research builds on the insights of Hyman P. Minsky, his Ph.D. supervisor at Washington University in St. Louis, in the areas of financial instability and employment policy in order to analyse the recent global financial crisis and develop an alternative approach to orthodox monetary theory that achieves price stability and true full employment.

Dr. Wray currently blogs at New Economic Perspectives and at Great Leap Forward, hosted by Economonitor.