In a 2011 New York Times article he accused Standard & Poor of "attempt[ing] to influence the political debate in Washington" concerning government debt by downgrading US debt from stable to negative.[4]
L. Randall Wray has been a long-time proponent of Modern monetary theory (MMT) and has written and spoken about the subject extensively.
Wray and his fellow MMT advocates have gained at least some acceptance among mainstream economists and business leaders working on Wall Street.[5][6]
On April 6, 2018, Wray gave a lecture at St. Francis College, located in New York City, about Modern Monetary Theory.[8] In this lecture he takes the viewer through the history of MMT and then lists the main benefits of the theory.
On November 20, 2019, Wray gave Congressional testimony, which he called the "Reexamining the Economics of Costs of Debt".[9]
Wray has published widely in journals and is the author of Understanding Modern Money: The Key to Full Employment and Price Stability (Elgar 1998) and Money and Credit in Capitalist Economies (Elgar 1990). He is the editor of Credit and State Theories of Money (Elgar 2004) and the co-editor of Contemporary Post-Keynesian Analysis (Elgar 2005), Money, Financial Instability and Stabilization Policy (Elgar 2006), and Keynes for the twenty-first century: The Continuing Relevance of The General Theory (Palgrave 2008). He coauthored Macroeconomics (Macmillan 2019), with William Mitchell and Martin Watts.
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