Understanding Modern Money: The Key to Full Employment and Price Stability
'This is the best kind of book - one that coaxes you to see the world in a new light. Old assumptions and prejudices melt away and you find yourself thinking differently (and more hopefully) about vitally important but troublesome issues of economic and social policy.' - Philip Harvey, Rutgers University of Law, US ' In this innovative new work, Randy Wray has convinced at least one reader that full employment and price stability are fully compatible goals in today's world....Pivoting on his fresh rereading of the history and nature of money, Wray generates insight after insight, and will change forever the way in which we think about key macroeconomic variables and relationships.' - John Adams, Northeastern University, US In this innovative and very practical book, Randall Wray argues that full employment and price stability are not the incompatible goals that current economic theory and policy assume. Indeed, he advances a policy that would generate true, full employment while simultaneously ensuring an even greater degree of price stability than has been achieved in the 1990s.
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