For over thirty years, Randy Wray has sought to dispel entrenched misconceptions of the theory and practice of money. Understanding Modern Money Theory is a magnificent, successful culmination of this endeavour, providing a lucid account of the nature and history of money, and how it can be carefully used to achieve full employment and economic wellbeing. -- Geoffrey Ingham, University of Cambridge, UK For decades, L. Randall Wray has helped us recognize that there is no money without credit and so challenged fundamentally conventional narratives about governance and the capitalist marketplace. This update to his influential work and brilliant synthesis of a multi-disciplinary literature is an essential and accessible introduction to understanding the monetary production economy. -- David M. P. Freund, University of Maryland, USA This is Wrays best volume so far. The result of decades of research, it flows beautifully from discussions of the origins of money through to how financing really works and finally to how we absolutely CAN afford to address the crises of today. In fact, we cannot afford not to. -- John T. Harvey, Texas Christian University, USA
