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L. Randall Wray

L. Randall Wray is senior scholar at the Levy Economics Institute and professor at Bard College.
Articles by L. Randall Wray

Does America Need Global Savings to Finance Its Fiscal and Trade Deficits?

It is frequently argued that America’s twin deficits—the government budget deficit and the trade deficit—result from profligate spending by the government and private sectors. This excess domestic spending, moreover, must be financed by global savings, putting America on an unsustainable debt path. Problems are compounded as the U.S. demand for savings can push up interest…

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