Understanding Modern Money Theory

Money and Credit in Capitalist Economies

by L. Randall Wray (publ. 3 Jun 2025) Buy

Contents

  • Preface vii
  1. Orthodox versus heterodox approaches to money
  2. Origins and nature of money
  3. Credit money and the rise of banking, central banking, and public money
  4. The state theory of money
  5. Introduction to the origins of the endogenous money approach
  6. Endogenous money: a credit and state money approach
  7. Money and interest rates
  8. Sovereign currency and fiscal policy
  9. The balance sheet approach to money and finance
  10. Money and the logic of capitalism
  11. Employment policy and the value of the currency
  12. Conclusion: the challenges ahead
  • Bibliography

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