Bellofiore, Mosler and Wray: The Recessionary Architecture of the EMU

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Originally Published on May 20, 2015. Event took place on May 16th, 5 p.m.‎ Riccardo Bellofiore Bio: Bellofiore is a professor of monetary economics and history of economic ‎thought at the University of Bergamo, is Professor, Department of Economics 'Hyman P. Minsky', also ‎Faculty of Economics, University of Bergamo, Italy and Research Associate, History where His main ‎research interests are monetary theory, value theory and the history of economic analysis. Also part ‎of the Economics Group, Faculty of Economics and Econometrics, University of Amsterdam, ‎Netherlands. ‎ Warren Mosler Bio: Mosler is an American economist and theorist, and one of the leading voices in ‎the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin ‎Islands, where he owns and operates Valance Co., Inc.‎ An entrepreneur and financial professional, Warren Mosler has spent the past 40 years gaining an ‎insider’s knowledge of monetary operations. He co-founded AVM, a broker/dealer providing ‎advanced financial services to large institutional accounts and the Illinois Income Investors (III) family ‎of investment funds in 1982, which he turned over to his partners at the end of 1997. He began his ‎career after graduating from the University of Connecticut with a B.A. in Economics in 1971 and has ‎been deeply involved in the academic community, giving presentations at conferences around the ‎world and publishing numerous articles in economic journals, newspapers, and periodicals.‎ He is attributed with creating Mosler’s law that states, “there is no financial crisis so deep that a ‎sufficiently large fiscal adjustment cannot deal with it.”‎ Mosler is the author of “The Seven Deadly Innocent Frauds of Economic Policy” located here from ‎Mosler's website: https://goo.gl/xOeKRT that has been translated into Italian, Polish, and Spanish.‎ L. Randall Wray Bio: Wray is a senior scholar and professor of economics at Bard College. His ‎current research focuses on providing a critique of orthodox monetary theory and policy, and ‎the development of an alternative approach. He also publishes extensively in the areas of full ‎employment policy and, more generally, fiscal policy. With President Dimitri B. Papadimitriou, ‎he is working to publish, or republish, the work of the late financial economist Hyman P. ‎Minsky, and is using Minsky’s approach to analyze the current global financial crisis.‎ ‎Wray is the author of Money and Credit in Capitalist Economies, 1990; Understanding ‎Modern Money: The Key to Full Employment and Price Stability, 1998; and Modern Money ‎Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, 2012 (2nd rev. ed., ‎‎2015). He is also coeditor of, and a contributor to, Money, Financial Instability, and Stabilization ‎Policy, 2006, and Keynes for the 21st Century: The Continuing Relevance of The General Theory, ‎‎2008. ‎ ‎Wray taught at the University of Missouri–Kansas City from 1999 to 2015 and at the ‎University of Denver from 1987 to 1999, and has been a visiting professor at the Universities of ‎Paris and Rome (La Sapienza). He holds a BA from the University of the Pacific and an MA and a ‎Ph.D. from Washington University, where he was a student of Minsky. ‎

Comments

  1. These Articles should help those who do not understand what a government is with monetary sovereignty and who do not understand Public/Federal Debt which does not operate as a household budget.

    Modern Monetary Theory Primer (MMT COURSE PRIMER) is here: https://goo.gl/9X4sqI

    Bill Mitchell: If you think you know what ‘debt’ is, read on
    http://bilbo.economicoutlook.net/blog/?p=24850

    Bill Mitchell: There is no federal public debt problem in the US
    http://bilbo.economicoutlook.net/blog/?p=15490

    Bill Mitchell: DEBT IS NOT DEBT
    http://bilbo.economicoutlook.net/blog/?p=3346

    Bill Mitchell: Been searching for a public debt overhang - didn’t get far
    http://bilbo.economicoutlook.net/blog/?p=26289

    Bill Mitchell: The US government can buy as much of its own debt as it chooses
    http://bilbo.economicoutlook.net/blog/?p=25161

    Bill Mitchell: Direct central bank purchases of government debt
    http://bilbo.economicoutlook.net/blog/?p=29140

    George Monbiot: 1) Neoliberalism - the ideology at the root of all our problems
    https://goo.gl/LOferJ

    George Monbiot: 2) Neoliberalism: the deep story that lies beneath Donald Trump’s triumph
    https://goo.gl/vHveSG

    Warren Mosler: “The Seven Deadly Innocent Frauds of Economic Policy” located here from Mosler's website: https://goo.gl/xOeKRT

    Joe Firestone: Neoliberalism Kills: Part One https://goo.gl/PNZYaO

    Joe Firestone: Neoliberalism Kills: Part Two https://goo.gl/bqa9Yb

    L. Randall Wray: MMT, SECTORAL BALANCES AND BEHAVIOR https://goo.gl/lRdkHp

    Rodger Malcom Mitchell: Modern Monetary Sovereignty Blog https://goo.gl/ewChFs


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