Saturday, June 4, 2011

Randall Wray Interview

Here is an interesting interview with Randall Wray on the Real News network. Lots of good stuff here.

In essence, many countries are mired in an underemployment disequilibrium and serious problems with private sector balance sheets, just as Japan was in the 1990s. Fiscal policy is the only thing stopping deep debt deflation and recession/depression. The financial sector needs cleaning up and proper regulation, and much of the private debt needs to be written off or restructured. Randall Wray gives his ideas on a modern monetary theory (MMT) jobs program for the US.


  1. Very interesting thanks. I hope you got my comment with quotes from Human Action on Socialism.


  2. I like these videos. They give me something stimulating to listen to when washing dishes.

  3. "They give me something stimulating to listen to when washing dishes."

    Glad to help with your dish washing!

    If you want more "inspiring" videos/audio (if somewhat more technical), try the Post Keynesian Study Group:

  4. Good recommendation, thanks, LK. Some of it has been baffling, particularly Osborne's lecture on Sraffa's reswitching (I've never understood complex numbers properly). But I'll keep looking into things. Thanx.