Non-NU Email I think Randall is right on expectations, particularly given weakened labor conditions that prohibits any kind of reactive wage pressures to rising prices. Even so, what the general public thinks has to do with their recent actual experiences and current observations. Dr. William Van Lear Professor Emeritus Economics Department Belmont Abbey College On Sun, Sep 26, 2021 at 11:55 AM Wray, Randall <[log in to unmask]> wrote: > Non-NU Email > ------------------------------ > Why Do We Think That Inflation Expectations Matter for Inflation? (And > Should We?) (federalreserve.gov) > <https://urldefense.com/v3/__https://www.federalreserve.gov/econres/feds/files/2021062pap.pdf__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5Xh4syFCg$> > > Author's footnote: I leave aside the deeper concern that the primary role > of mainstream economics in our society is to provide an apologetics for a > criminally oppressive, unsustainable, and unjust social order. > > Preaching to the choir. > > The paper wastes a lot of time trying to make the case, but the general > claim that expectations do not determine inflation is one I've always made. > Expectations eventually converge to reality. > > With some exceptions for the devoutly religious. > > > L. Randall Wray > Senior Scholar, Levy Economics Institute > Papers: https://urldefense.com/v3/__http://www.levyinstitute.org/publications/?auth=287__;!!PvXuogZ4sRB2p-tU!VSpjDJncG9fu5ubaIFviIwb8m9nXTGEMJNUkREjW_KzNWH0wpe2NVjySka2Hzgo9mTO7yw$ > <https://urldefense.com/v3/__http://www.levyinstitute.org/publications/?auth=287__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5Xh8avtvQ$> > > Professor of Economics, Bard College > > > <https://urldefense.com/v3/__http://www.levyinstitute.org/publications/?auth=287__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5Xh8avtvQ$>Emeritus > Professor, University of Missouri-Kansas City > > Co-editor *Journal of Post Keynesian Economics* > ISSN 0160-3477 (Print), 1557-7821 (Online) > https://urldefense.com/v3/__http://www.tandfonline.com/toc/mpke20/current__;!!PvXuogZ4sRB2p-tU!VSpjDJncG9fu5ubaIFviIwb8m9nXTGEMJNUkREjW_KzNWH0wpe2NVjySka2Hzgo3ywvlAw$ > https://urldefense.com/v3/__http://www.tandfonline.com/toc/mpke20/current__;!!PvXuogZ4sRB2p-tU!VSpjDJncG9fu5ubaIFviIwb8m9nXTGEMJNUkREjW_KzNWH0wpe2NVjySka2Hzgo3ywvlAw$ > <https://urldefense.com/v3/__http://www.tandfonline.com/toc/mpke20/current__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5VEWaba9w$> > > > <https://urldefense.com/v3/__http://www.tandfonline.com/toc/mpke20/current__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5VEWaba9w$> > > Recent Books: > > *A Great Leap Forward: Heterodox Economic Policy for the 21st Century*; > Randall Wray; Paperback ISBN: 9780128193808; Academic Press; Published > Date: 22nd January 2020; > https://urldefense.com/v3/__https://www.elsevier.com/books/a-great-leap-forward/wray/978-0-12-819380-8__;!!PvXuogZ4sRB2p-tU!VSpjDJncG9fu5ubaIFviIwb8m9nXTGEMJNUkREjW_KzNWH0wpe2NVjySka2Hzgr5ZFVknw$ > <https://urldefense.com/v3/__https://www.elsevier.com/books/a-great-leap-forward/wray/978-0-12-819380-8__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5VgMKsJWg$> > > > > *Macroeconomics*; Author(s): William Mitchell, L. Randall Wray, Martin > Watts; Red Globe Press, Macmillan International; February 2019; > https://urldefense.com/v3/__https://www.macmillanihe.com/page/detail/Macroeconomics/?K=9781137610669__;!!PvXuogZ4sRB2p-tU!VSpjDJncG9fu5ubaIFviIwb8m9nXTGEMJNUkREjW_KzNWH0wpe2NVjySka2HzgoJf6W1Lg$ > <https://urldefense.com/v3/__https://www.macmillanihe.com/page/detail/Macroeconomics/?K=9781137610669__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5WwB_Yw-w$> > . > > > > *Why Minsky Matters: An Introduction to the work of a maverick economist, *Princeton > University Presshttp://press.princeton.edu/titles/10575.html > <https://urldefense.com/v3/__http://press.princeton.edu/titles/10575.html__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5WMTQRfwA$> > > > > *Modern Money Theory: a primer on macroeconomics for sovereign monetary > systems*, Palgrave Macmillan > https://urldefense.com/v3/__http://www.palgrave.com/page/detail/modern-money-theory-l-randall-wray/?isb=9781137539908__;!!PvXuogZ4sRB2p-tU!VSpjDJncG9fu5ubaIFviIwb8m9nXTGEMJNUkREjW_KzNWH0wpe2NVjySka2HzgonxkpOuw$ > <https://urldefense.com/v3/__http://www.palgrave.com/page/detail/modern-money-theory-l-randall-wray/?isb=9781137539908__;!!PvXuogZ4sRB2p-tU!WiCXYtovsm5yJsJegXMpk_Ck_zdNChRN4ESNOmf5RuMIoHEHtpr1VXn6MS8TD5UNWScAMw$> > > > > > > > Please make note of my new email address as I will be transitioning all > email to: > [log in to unmask] >
