The 2022 Veblen Commons Award Recipient: L. Randall Wray.

Randy's work has dispelled the myth that money originated out of barter, that it was a private sector, free market invention, and that the state only played a marginal role in the monetary system. When I tried to nominate Randy Wray for the V-C award, I was told he had already been nominated. Instead, taxes create demand for the state's IOU by imposing debt on the population that can only be paid in the state's own IOUs. [Extracted from the article]