The Great Debate©: Is Fed Policy Too Tight?

The following is a proposition by Scott Sumner (professor of economics at Bentley University) that the QE programs by the U.S. Federal Reserve and other central bank actions have actually been “highly contractionary” and a rebuttal by L. Randall Wray (professor of economics at the University of Missouri Kansas City).

The Great Debate©: Who Saw it Coming? (Part 2)

by L. Randall Wray, New Economic Perspectives Editor’s note: This is a continuation of the discussion posted earlier, The Great Debate©:  Who Saw It Coming? A focal point of that discussion was Hyman Minsky who formulated theories about instability in economic systems.  This essay adds to the debate and comes from one who studied for …