Theoretically speaking

Randy Wray was one of the finalists for our #NotTheNobel prize in October and is one of the world’s leading advocates of Modern Monetary Theory (MMT). It might sound like an obscure bit of economic theory but MMT grabbed attention when US Democrat Congresswoman, Alexandra Ocasio-Cortez, started talking about it.

So we decided to talk to Wray to understand better what exactly MMT is, and why it has gained such recent prominence. It turns out it may be key to avoiding climate breakdown. But for MMT to be adopted, it would also mean lots of important people admitting that they had previously been wrong. So how is that going to turn out?

Randall Wray

Randall Wray (born 1953) is a professor of Economics at the Levy Economics Institute, Bard College in New York. He has a PhD in economics from Washington University in St. …

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One Comment on “Theoretically speaking”

  1. From this interview, there appears to be no serious difference between what J.MJ. Keynes claimed and the new MMT ideas. In other words the reason for this new name is simply to avoid the stigma and politics associated with the Keynesiam of the past. So what else is new Doc?

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