**UPCOMING RP EVENTS:** Macro 'n Chill - July 1st, "MMT for the Proles" ☭ Come hang out with us!


**UPCOMING RP EVENTS:** Macro 'n Chill - July 1st, "MMT for the Proles" ☭ Come hang out with us!


Skip to content
Real Progressives
Real Progressives
  • Media
    • Macro N Cheese | MMT Podcast
    • The Rogue Scholar
    • The New Untouchables
    • Community Articles
    • New Economic Perspectives
    • Modern Money Primer
  • Focus Areas
    • Economic Justice
    • Environmental & Ecological Justice
    • Peace with Justice
    • Equality with Justice
    • Democracy
    • Health & Wellbeing
    • Technology & Innovation
  • RP Book Club
  • RP Bookshop
  • RP Merch Store
  • Donate
Real Progressives
  • Media
    • Macro N Cheese | MMT Podcast
    • The Rogue Scholar
    • The New Untouchables
    • Community Articles
    • New Economic Perspectives
    • Modern Money Primer
  • Focus Areas
    • Economic Justice
    • Environmental & Ecological Justice
    • Peace with Justice
    • Equality with Justice
    • Democracy
    • Health & Wellbeing
    • Technology & Innovation
  • RP Book Club
  • RP Bookshop
  • RP Merch Store
  • Donate

L. Randall Wray

Senior Scholar L. Randall Wray is a professor of economics at Bard College. His current research focuses on providing a critique of orthodox monetary theory and policy, and the development of an alternative approach. He also publishes extensively in the areas of full employment policy and, more generally, fiscal policy.
The Greatest Myth Propagated About The FED: Central Bank Independence (Part 1)

The Greatest Myth Propagated About The FED: Central Bank Independence (Part 1)

December 28, 2024May 28, 2023 by L. Randall Wray

It has been commonplace to speak of central bank independence—as if it were both a reality and a necessity…

Categories New Economic Perspectives Tags Federal Reserve
Modern Money Theory: The Basics

Modern Money Theory: The Basics

October 28, 2024May 27, 2023 by L. Randall Wray

Here we go with the basics of MMT.

Categories New Economic Perspectives Tags MMT
MMT and External Constraints

MMT and External Constraints

November 28, 2024May 27, 2023 by L. Randall Wray

To Fix or To Float, that is the question.

Categories New Economic Perspectives, Real Progressives Tags Borrowing, Foreign Exchange, Imports-Exports, MMT, Sovereignty
MMP Blog #52: Conclusion: The Nature of Money

MMP Blog #52: Conclusion: The Nature of Money

October 20, 2024September 26, 2022 by L. Randall Wray

Let us close this blog and this Primer with an examination of three propositions on the nature of money. This has been a long and difficult blog. You might need to read it twice. Or three times.

Categories Modern Money Primer, New Economic Perspectives
MMP Blog #51: The Efficiency Fairy and Inflation Goblins

MMP Blog #51: The Efficiency Fairy and Inflation Goblins

April 6, 2025September 25, 2022 by L. Randall Wray

The main objections to MMT are the belief that adoption of a fiat money necessarily leads to high inflation and perceived government inefficiency. Let’s expose these boogeymen.

Categories Modern Money Primer, New Economic Perspectives
MMP Blog #50 Responses

MMP Blog #50 Responses

October 20, 2024September 24, 2022 by L. Randall Wray

Comments and responses on the Modern Money Primer Part 50.

Categories Modern Money Primer, New Economic Perspectives
MMP Blog #50: MMT Without the JG? Conclusion

MMP Blog #50: MMT Without the JG? Conclusion

November 5, 2024September 24, 2022 by L. Randall Wray

Can you separate the MMT explanation of the cause of unemployment from the policy to cure it? Yes. Should you? Of course not.

Categories Modern Money Primer, New Economic Perspectives Tags Federal Job Guarantee, MMT
MMP Blog #49: Should Growth Drive Jobs, or Jobs Drive Growth?

MMP Blog #49: Should Growth Drive Jobs, or Jobs Drive Growth?

October 20, 2024September 23, 2022 by L. Randall Wray

It is much better to create the jobs and then let growth follow, rather than to try to pump up growth in the hope that some jobs might trickle down.

Categories Modern Money Primer, New Economic Perspectives
MMP Blog #48 Responses

MMP Blog #48 Responses

October 20, 2024September 22, 2022 by L. Randall Wray

Comments and responses on the Modern Money Primer Part 48.

Categories Modern Money Primer, New Economic Perspectives
MMP Blog #48: Is The Job Guarantee Necessary?

MMP Blog #48: Is The Job Guarantee Necessary?

October 20, 2024September 22, 2022 by L. Randall Wray

Once one understands that sovereign governments do not have to force millions to suffer involuntary unemployment, then the ethically defensible position of opposing a Job Guarantee is narrowed.

Categories Modern Money Primer, New Economic Perspectives
Older posts
Newer posts
← Previous Page1 Page2 Page3 Page4 … Page13 Next →

Latest Macro N Cheese Episode

Recent Posts

  • The Road to Fascism is Paved with Liberal Intentions
    The Road to Fascism is Paved with Liberal IntentionsJune 26, 2025
  • Inflation as a Weapon of Class Power: A Modern Monetary and Marxist-Leninist Perspective
    Inflation as a Weapon of Class Power: A Modern Monetary and Marxist-Leninist Perspective June 21, 2025
  • The Barter Lie: How Capitalism Rewrote Economic History
    The Barter Lie: How Capitalism Rewrote Economic History June 19, 2025
  • Modern Monetary Theory Without Class Struggle is Just Accounting
    Modern Monetary Theory Without Class Struggle is Just AccountingJune 11, 2025
  • All Frogs Go To Heaven
    All Frogs Go To HeavenJune 5, 2025

Popular Topics

Austerity Capitalism Class War Climate Deficit Democracy Federal Job Guarantee Federal Reserve Inflation Labor MMT Neoliberalism Propaganda Taxation Working Class

© Real Progressives 2025