Home / Quotes / Quote by L. Randall Wray

Quote by L. Randall Wray

“A half century of neoliberalism has brought the world to the brink of collapse. Only concerted effort and cooperation by the world’s governments provides any chance of survival. Understanding MMT does not make this easy. But it helps us to recognize what the true constraints are: resources, initiative, politics, imagination.”

Quote by L. Randall Wray

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Work

Modern Monetary Theory: Key Insights, Leading Thinkers

Browse quotes and source details for this work. more

Author

L. Randall Wray

Browse famous quotes and profile details for L. Randall Wray. more

You May Also Like

“For those with an open mind, it has become increasingly clear that MMT provides a sound basis for developing an understanding of the operation of a monetary economy, enabling economists and political analysts to better understand the nature of the opportunities that are available for policy.”

Politics Policy Economics Macroeconomics

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“We believe that an understanding of the insights of MMT is a vital base for the creation of a world where people have the opportunity to live lives free from poverty and hunger and also to have the ability to contribute to their communities. MMT is the starting point for improvements to our lives, the seed from where good policy can grow and flourish.”

Politics Economics Macroeconomics

Author:Claire Jackson-Prior, Sara Holland, Prue Plumridge

“Nations do not exist in isolation. Peoples have always roamed the globe in search of different opportunities. Nations principally trade to expand their consumption possibilities. In a world where we produce to consume, receiving goods and services is better in material terms than sending them elsewhere.”

Economics Trade Imports Macroeconomics Exports External Economy

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“While export spending boosts national income, we consider exports to be a cost in the sense that they deprive the domestic population of the use of the real resources that are used up in the production of the goods and services sold abroad.”

Economics Trade Macroeconomics Exports

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“Our purpose is not a beautiful sentence we define once and then follow. Being purpose-driven is the readiness to tune into our soul’s guidance system and follow what’s right for us in the present moment.”

Soul Purpose Spirituality Purpose Of Life Purpose Driven Life Purposeful Living The Human Advantage

Author:Natalia Blagoeva

“The multilateral institutions that were introduced in the Post World War II period to coordinate international aid – the IMF and the World Bank – have failed in their respective missions. They became agents for the ‘free market’ ideology and through their structural adjustment packages and related policies have made it harder for a nation to develop.”

Economics Developing Countries Macroeconomics Imf World Bank Developing Nations

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“The state sets the terms of exchange for its currency with the prices it pays when it spends, and not per se by the quantity of currency that it spends.”

Economics Inflation Macroeconomics

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“Demand originates with the state. Without state spending, the value of the currency is unspecified and there is no aggregate demand. Only subsequent to state spending can the currency obtain absolute value and non-government spending take place.”

Economics Inflation Macroeconomics

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“when there is a line outside the Job Guarantee Office, you know you need to spend more; when there is not, you do not. And once in place as a programme, there is no need for new legislation in the face of every downturn.”

Economics Employment Macroeconomics

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers

“A once-and-for-all increase in prices due to low-end workers finally seeing their wages catch up to historical productivity increases is a desired policy outcome, not something to be avoided. Thereafter, the goal would be for wages to stay roughly par with productivity, thereby creating price stability.”

Economics Employment Inflation Macroeconomics

Book:Modern Monetary Theory: Key Insights, Leading Thinkers

Source: Modern Monetary Theory: Key Insights, Leading Thinkers