L. Randall Wray

"The true order of events shows that orthodoxy clearly has reversed the process through which investment is funded. Banks do not begin as intermediaries which accept deposits of 'savers' and then make …"

"It has long been speculated that money predates writing because the earliest examples of writing appear to be records of monetary debts—meaning that the closely intertwined chronology of the developme…"

"A sovereign government's budget is not like the budget of a household or firm. Governments issue the currency, whereas households and firms use the currency. As the chartalist, or modern money approac…"

"Money as a medium of exchange becomes important when workers are paid in medium of exchange rather than in wage goods directly. Since wage goods constitute the majority of goods produced , it is tempt…"