L. Randall Wray

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L. Randall Wray
Born (1953-06-19) June 19, 1953 (age 62)
Nationality American
Institution University of Missouri–Kansas City, United States[1]
Field Monetary economics; Political economy
School or tradition
Post-Keynesian economics
Information at IDEAS / RePEc

Larry Randall Wray (born June 19, 1953) is professor of Economics at the University of Missouri-Kansas City in Kansas City, Missouri, USA, whose faculty he joined in August 1999.[1] Before UMKC, he served as a visiting professor at the University of Rome, Italy, the University of Paris, France, and the UNAM, in Mexico City.

He is also Research Director, of the Center for Full Employment and Price Stability, and Senior Scholar at the Levy Economics Institute of Bard College, NY.

Wray is a past president of the Association for Institutionalist Thought and served on the board of directors of the Association for Evolutionary Economics. He has served, along with fellow Post-Keynesian William Mitchell of the Charles Darwin University, Australia, as co-editor of the International Journal of Environment, Workplace, and Employment.


Wray received a B.A. from the University of the Pacific and an M.A. and Ph.D. from Washington University in St. Louis.[1] He came to Economics relatively late in his academic career after studying psychology as an undergraduate.[2]


A student of Hyman P. Minsky while at Washington University in St. Louis, Wray has focused on monetary theory and policy, macroeconomics, financial instability, and employment policy. He is a prominent proponent of Modern Monetary Theory in macroeconomics.[3]

Wray has published widely in journals and 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). He is the editor of Credit and State Theories of Money (Edward Elgar 2004) and the co-editor of Contemporary Post-Keynesian Analysis00 (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.

Wray is also the author of numerous scholarly articles in edited books and academic journals, including the Journal of Economic Issues, the Cambridge Journal of Economics, the Review of Political Economy, the Journal of Post Keynesian Economics, the Economic and Labour Relations Review, the French journal Economie Appliquée, and the Eastern Economic Journal.[1]

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