Wray, L. Randall - Levy Economics Institute - 2010
literature on money. The approach taken here is integrated with Hyman Minsky’s (1986) work (which relies heavily on the work of … his dissertation adviser, Joseph Schumpeter [1934]); the endogenous money approach of Basil Moore; the French …This paper advances three fundamental propositions regarding money: (1) As R. W. Clower (1965) famously put it, money …