The following academic and professional economists, as well as other financial professionals agree with the following four statements:

1. Government $deficit = non government $surplus (net financial assets)

2. Operationally, government spending is not inherently revenue constrained.
   Any such constraints are necessarily self-imposed.

3. In the banking system, the causation runs from loans to deposits, that is,
   ‘loans create deposits.’

4. The Fed is the monopoly supplier of net reserves to its banking system, and,
   therefore has no option but to set at least one interest rate.

 

To be added to the list, please fill out this form.

(Email: smosler@valance.us to modify or add information.)

Thank you!
 
 

Academic Professionals

(listed in alphabetical order)

Arestis, Philip

Cambridge Centre for Economic and Public Policy, Department of Land Economy
University of Cambridge
UK

Fellow of Wolfson College at University of Cambridge
UK

---

Bellofiore, Riccardo

Professor
Dipartimento di Scienze Economiche
Università di Bergamo
Bergamo, Italy

---

Ben Chalbia, Radhouan

Doctorant
Faculty de Sciences Economique et gestion de Sfax
FSEG de Sfax

---

Bougrine, Hassan

Professor of Economics
Laurentian University
Ontario, Canada

Director
International Policy Institute
Laurentian University
Ontario, Canada

---

Bousseyrol, Marc

Professor
L’ecole nationale de commerce
Paris, France

---

Chamchiev, Tchinguiz

Centre d’Etudes de la Pensee et Systemes Economiques (CEPSE)
Universite Pierre Mendes France- Grenoble 2, UFR ESE
Lyon, France

---

Cordonnier, Laurent

Academic Post Keynesian Economist
Lille 1 University
Cite Scientifique, France

---

Correa, Eugenia

Universidad Nacional Autonoma de Mexico

---

Correa, Romar

Professor of Monetary Economics
Department of Economics
University of Mubai Vidyanagari
Mumbai, India

---

Davidson, Paul

Editor
Journal of Post Keynesian Policy Analysis

Bernard Schwartz Center for Economic Policy Analysis
The New School
New York City, New York

---

Forstater, Mathew

Associate Professor of Economics
University of Missouri-Kansas City

Center for Full Employment and Price Stability(C-FEPS)
Levy Economics Institute

---

Fullwiler, Scott

James A. Leach Chair in Banking and Monetary Economics
Wartburg College
IA

President
Center for Full Employment and Price Stability

---

Galbraith, James K.

Professor
The University of Texas at Austin

---

Garcia Banchs, Angel

Professor
Universidad Central de Venezuela

---

Giovannoni, Oliver

Senior Lecturer
Department of Economics
University of Texas
Austin, Texas

---

Godley, Wynne

Emeritus Professor of Applied Economics
King’s College
Cambridge University

---

Goodhart, Charles

Financial Markets Group
London School of Economics
UK

---

Halevi, Joseph

Department of Political Economy
School of Social and Political Science
The University of Sydney
Sydney, Australia

---

Kaboub, Fadhel

Assistant Professor of Economics
Denison University

---

Kostzer, Daniel

Professor of the Faculty of Economics
University of Buenos Aires

Social Development Cluster Coordinator
UNDP Argentina

---

Kriesler, Peter

Associate Professor
University of New South Wales
Sydney, Australia

Director
The Society of Heterodox Economists

Educational Background:

• PhD
  University of Cambridge
• Master of Economics Honours
  Sydney University
• Bachelor of Economics Honours
  Sydney University

---

Lavoie, Marc

Department of Economics
University of Ottowa
Canada

---

Le Heron, Edwin

Professor
Sciences Po Bordeaux
France

President
ADEK (Association for the Development of Keynesian Studies)

---

Leclaire, Joelle

Assistant Professor
Department of Economics and Finance
SUNY College at Buffalo
Buffalo, NY

---

Levy-Orlik, Noemi

Economic Faculty
Universidad Nacional Autonoma de Mexico
Mexico

---

Lopez, Julio

Professor
Universidad Nacional Autonoma de Mexico

---

McCombie, Dr. John

Director of Research
Cambridge Centre for Economic and Public Policy
UK

Fellow in Economics and Tutor
Downing College at University of Cambridge
UK

---

Mitchell, William

Professor of Economics
University of New Castle
Australia

Director
Center of Full Employment ant Equity

---

Moore, Basil

Professor Extraordinary of Economics
Stellenbosch University
South Africa

---

Parguez, Alain

Professor of Economics, 1st Class
University de France Comte a Besancon
France

---

Pellerano, Fernando

Professor of Economics
Universidad Autonoma de Santo Domingo

Licenciado en Economia
Universidad Autonoma de Santo Domingo

M. Phil. in Development Studies
University of Cambridge

Economic colummnist
Hoy newspaper
Santo Domingo, Dominican Republica

Former Economic Advisor of the Central Bank (2000-2005)
Dominican Republic

---

Pilkington, Marc

Lecturer
PhD
Agrégé, highest French teaching qualification
University of Nice
Sophia Antipolis, France

---

Radzicki, Michael J.

Associate Professor of Economics
Worcester Polytechnic Institute
Worcester, MA

---

Rochon, Louis-Philippe

Associate Professor
Laurentian University
Ontario, Canada

Theme Director
International Economic Policy Institute

---

Seccareccia, Mario

Professor
University of Ottowa
Canada

Editor
International Journal of Political Economy

---

Setterfield, Mark

Professor of Economics
Trinity College
CT

---

Sood, Atul

Associate Professor
Centre for the Study of Regional Development
Jawaharlal Nehru University
New Delhi, India

---

Tchernvea, Pavlina R.

Assistant Professor
Franklin and Marshall College

Center for Full Employment and Price Stability
Levy Economics Institute

Economists for Full Employment
Epic: A coalition of economic policy institutions.

---

Terzi, Andrea

Professor of Economics
Franklin College
Switzerland

---

Tymoigne, Eric

Assistant Professor of Economics
California State University, Fresno

---

Vallageas, Bernard

Professor
Université Paris-Sud
Paris, France

Vice-President
Assocation pour le Développement des Etudes Keynésiennes

---

Van de Velde, Franck

Professor of Economics
University of Lille

ADEK

---

Wray, L. Randall

Research Director
Center for Full Employment and Price Stability

Senior Scholar
Levy Economics Institute at Bard College

 
 

Students

Rezende, Felipe

PhD student in Economics
University of Missouri-Kansas City UMKC

 
 

Financial Professionals

Babij, Greg

Sales
AVM, LP

---

Congdon, Tim

Founder
Lombard Street Research
London, UK

---

Davis, Josh

Managing Member
Winborne Capital Management, LLC

---

Farley, Roger

CEO
MTG Trading, LLC

---

Guerra, Cesar

Research
Valance

---

Korenaga, Jill

CMPS, Realtor

---

Locke, Morgan

Intern
Valance Co.

Educational Background:
Undergraduate Degree
Yale University

---

Maguire, James

Equities Trader
Investments Equity Trading

---

Matchett, Chris

CEO
Matchett Capital, LLC

---

McCauley, Bill

Principal and CEO
III Associates

---

Mosler, Sada

Economic Research
Valance Co.

Editor
moslereconomics.com

Student
Master of Science in Management: Banking and Financial Services Management
Boston University (Online)

Educational Background
Bachelor of Science in Mathematics
Rollins College
Winter Park, FL

---

Meade, William

Portfolio Manager
a global macro fund

Educational Background
PHD candidate in Economics
Johns Hopkins University

MBA with a concentration in financial mathematics
Florida State University

Paid Teaching Assistant and Researcher
College of Business
Florida State University

---

Mosler, Seth

Business Manager
Martha’s Vineyard Charter School

---

Nugent, Thomas E.

Chief Investment Officer
Victoria Capital Management, Inc.

---

Oelschlager, Dieter

Senior Investment Analyst
James River Capital

---

Palley, Thomas

Economist
Economics for Democratic & Open Societies

---

Patton, Davin

Research Associate
Valance Company

Educational Background:
Rice University

---

Pede, Michael

Research Associate
Valance

---

Norman, Michael

Economist
BizRadio Show Host

Business Contributor
Fox News Business

---

Ramsey, Scott T.

President
Denali Asset Management, LLLP

---

Sharma, Sanjiv

Principal
AVM, LP

---

Stamper, Robert

Fund Manager
James River Capital Corp.

---

Viner, Clifford G.

Principal and Co-Founder
III Associates

 
 

Other Sector Professionals

Groom, Mark

Lead Electrical and Instrumentation Technician
CT DEP Power Plant Operators
U.S. Navy Nuclear Power

---

Johncke, Christopher

Quality Engineer
American Society for Quality

Educational Background:
Bachelor of Science
Engineering Technology
University of Central Florida

---

McCutcheon, John-Crichton

Senior Software Engineer/Junior Economist
MarketGrader.com

---

Mosler, Jacob

Writer

---

Sobenko, Teresa L.

Journalist/Writer/International Correspondent

The National Press Club
Washington DC
Active Member

MA in English and American Studies
The Jagiellonian University
Krakow (EU)

---

Yeakle, Samantha

Wedding Photographer
Smatt Photography

---

Yeago, Stephen

Senior Programmer/Analyst
Easily Amused, Inc.

Bachelor of Arts
Economics
Rollins College