Modern Money Theory

A Primer on Macroeconomics for Sovereign Monetary Systems

Authors: Wray, L. Randall

  • Fully revised and updated second edition to an iconic text that changed the way we understand the economy
  • Provides fresh ideas about how policymakers around the world should address the continued weaknesses in their economies
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eBook $24.99
price for USA (gross)
  • ISBN 978-1-137-53992-2
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  • Immediate eBook download after purchase
Hardcover $115.00
price for USA
  • ISBN 978-1-137-53991-5
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  • Usually dispatched within 3 to 5 business days.
Softcover $35.00
price for USA
  • ISBN 978-1-137-53990-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

About the authors

L. Randall Wray is a professor of Economics at the University of Missouri-Kansas City, USA, and Senior Scholar at the Levy Economics Institute of Bard College, New York, USA. 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 has published widely in journals and is the author of Why Minsky Matters (2015), Understanding Modern Money: The Key to Full Employment and Price Stability (1998) and Money and Credit in Capitalist Economies (1990). He is the editor of Credit and State Theories of Money (2004) and the co-editor of Contemporary Post Keynesian Analysis (2005), Money, Financial Instability and Stabilization Policy (2006), and Keynes for the Twenty-First Century: The Continuing Relevance of The General Theory (2008). Wray is also the author of numerous scholarly articles in edited books and academic journals. He is the co-editor of the Journal of Post Keynesian Economics. He has been a visiting professor at the University of Rome, the University of Paris, the University of Bergamo, the University of Bologna, and UNAM (Mexico City). He was the Bernardin-Haskell Professor, UMKC, Fall 1996, and joined the UMKC faculty as Professor of Economics, August 1999.

Reviews

'This book paves the way for another revolution in macroeconomics. Wray shows us how an economy with modern money works and, more importantly, how it can be used to lift us to a more prosperous tomorrow.' Stephanie Kelton, University of Missouri-Kansas City

'Wray debunks so many of the destructive beliefs that have contributed to our current economic and social malaise. This is a primer that should not only become mandatory reading for students of economics, but any policy maker who truly wants to deal with the grave disasters engendered from years of 'reading from the wrong playbook'.' Marshall Auerback, Director of the Economists for Peace and Security (epsusa.org) and a research associate at the Levy Institute


Table of contents (11 chapters)

  • Introduction: The Basics of Modern Money Theory

    Wray, L. Randall

    Pages 1-8

  • The Basics of Macroeconomic Accounting

    Wray, L. Randall

    Pages 9-40

  • Spending by Issuer of Domestic Currency

    Wray, L. Randall

    Pages 41-70

  • The Domestic Monetary System: Banking and Central Banking

    Wray, L. Randall

    Pages 71-102

  • Fiscal Operations in a Nation That Issues Its Own Currency

    Wray, L. Randall

    Pages 103-136

Buy this book

eBook $24.99
price for USA (gross)
  • ISBN 978-1-137-53992-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $115.00
price for USA
  • ISBN 978-1-137-53991-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $35.00
price for USA
  • ISBN 978-1-137-53990-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
Modern Money Theory
Book Subtitle
A Primer on Macroeconomics for Sovereign Monetary Systems
Authors
Copyright
2015
Publisher
Palgrave Macmillan UK
Copyright Holder
L. Randall Wray
eBook ISBN
978-1-137-53992-2
DOI
10.1057/9781137539922
Hardcover ISBN
978-1-137-53991-5
Softcover ISBN
978-1-137-53990-8
Edition Number
2
Number of Pages
XVI, 306
Number of Illustrations and Tables
12 b/w illustrations
Topics