I wrote about this on my blog, in an article called Modern Monetary Theory and returned to it over the last couple of hours. While I attributed it to Bill Mitchell, the papers I quoted and subsequent google searches point to L. Randall Wray and others. Wray’s book, Understanding Modern Money: The Key to Full Employment and Price Stability is dated 1998. 

  1. http://lmgtfy.com/?q=randall+wray+mmt+white+paper
  2. http://lmgtfy.com/?q=randall+wray+mmt+%201998
  3. http://lmgtfy.com/?q=wray+1998

Google states that the book is not available as an e-book, nor it would seem as open access .pdf. May 2017. It is available on Kindle, and so I am checking if Prime means I can get hold of it.

  1. This document, an anthology, published in 2012 includes an article by Fullwiler, Kelton, & Randall Wray, MODERN MONEY THEORY: A RESPONSE TO CRITICS
  2. This document, “MODERN MONEY: The way a sovereign currency ‘works'” hosted at the Levy Institute (natch), is the white paper presented using these slides at the conference: Central Banks, Financial Systems, and Economic Development, Banco Central de la Republica Argentina in Buenos Aires, Argentina on 10/2/2012


Image Credit (PTUI): from Images of Money @flickr CC BY 2011

Dave Economics ,

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