What is Money? The way a sovereign currency "works" - L. Randall Wray

in #dtube2 years ago (edited)


What is Money? Why is at accepted? What is the relationship between money & government? What backs up our money? Can the US government run out of money? You may be surprised by the answers!
L. Randall Wray, Ph.D. is a Professor of Economics and Research Director for the Center for Full Employment and Price Stability at the University of Missouri-Kansas City. He is also a Senior Scholar at the Levy Economics Institute of Bard College. Dr. Wray was a student of Hyman P. Minsky, whose work on financial instability has received significant attention following the global financial crisis. He is the author of Understanding Modern Money: The Key to Full Employment and Price Stability (Elgar, 1998), and currently blogs at New Economic Perspectives and at Great Leap Forward.
Source: 'Modern Money & Public Purpose 1: The Historical Evolution of Money and Debt'

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