Warren Mosler

Mosler attended the University of Connecticut where he graduated with a degree in economics. ==Hedge fund career==

In 1982 he founded a hedge fund, Illinois Income Investors, where he was responsible for several strategies utilizing government securities, mortgage backed securities, LIBOR swaps and LIBOR caps, and financial futures markets. By the late 1990s, most of the firm had been largely turned over to his partners, as he had disagreements on the direction of some of its investments. Mosler's hedge fund was informed by his developing theories. After his departure at the end of 1997, Mosler's former business lost money when several dealers refused to make payments on credit default swaps on Russian debt. Separately, Mosler's attributed the crisis to the fixed exchange rate Russia had at the time. ==Academic work==

Mosler met economist Arthur Laffer through a referral from Donald Rumsfeld. At a meeting of Social Policy in NYC, William Vickrey suggested Mosler to seek out post-Keynesian economists L. Randall Wray, Bill Mitchell, and Stephanie Kelton to discuss his ideas. These post-Keynesian economists had been familiar with chartalism, and agreed with Mosler's analysis. Laffer's staff economist Mark McNary provided editorial and research assistance in Mosler's self-published monograph, "Soft-Currency Economics". after the Mosler Economic Policy Center (a center founded by him and aimed at encouraging education and research in new concepts and methods of economic policy analysis) had promoted a lecture about functional finance at Franklin the year before. In 2014 he became visiting professor at the University of Bergamo. He stated that the recent recession could have been alleviated much quicker from a full payroll tax holiday that suspended FICA taxes (or massive government spending increases, depending on one's politics) until unemployment fell. He stresses that federal spending is in no way constrained by tax revenues, therefore the government will always be able to make payments in its own currency, stating "Federal Government checks don't bounce". He goes on to state that any and all debt passed on to future generations will never be burdensome, since they will undoubtedly consume whatever is produced. Energy In a brief proposal, Mosler stated the energy crisis could be solved by lowering the speed limit nationally to 30 mph. According to Mosler, this would cut gasoline consumption and pollution since automobiles run more efficiently at slower speeds, while also greatly increase the demand for public transportation. He states that such an initiative would eventually lead to a supply shock forcing prices down, and improve real terms of trade. Taxes Mosler supports eliminating the income tax and replacing it with a real estate tax to "anchor the currency". He also supports eliminating tax advantages for any savings accounts, since he states savings do not increase investments necessarily. He supports luxury taxes being used to limit the consumption of undesirable goods. ==Political campaigns==

In February 2009, Mosler declared his candidacy with the Federal Elections Commission to run for the office of President of the United States as an independent. ==Automotive and maritime interests==

Mosler developed several luxury sports cars and supercars, including the Consulier GTP and the Mosler MT900. Starting in 1985, his cars were marketed by startup company Consulier, later renamed Mosler Automotive. Mosler was so confident about one of his models, the Consulier GTP, that he offered a bounty of $25,000 to anyone who could beat it in a race. Car and Driver took up the gauntlet and defeated his car. Mosler noted that the model used in the race was a worn-out Consulier and even so offered to pay if he was allowed to use his own driver and replace the brake pads. Car and Driver refused. Mosler subsequently offered the challenge once more for a higher bounty of $100,000 and held an event at Sebring where the Consulier again proved to be far quicker than any other road car. ==Personal life==

Around 2010, Mosler relocated to the U.S. Virgin Islands in order to participate in a government-sponsored economic growth initiative. In 2013, the New York Times described Warren as "transitioning into an active retirement". ==Selected publications==

• "Maximizing Price Stability in a Market Economy," Journal of Policy Modeling, January 2017, co authored by Professor Damiano Bruno Silipo, Università della Calabria • "Critique of John B. Taylor's 'Expectations, Open Market Operations, and Changes in the Federal Funds Rate'," Journal of Post Keynesian Economics, forthcoming. • "The Natural Rate of Interest Is Zero," with Mathew Forstater, JOURNAL OF ECONOMIC ISSUES, Vol. XXXIX No. 2, 2005 • "Public Sector Employment, Foreign Exchange and Trade, Achieving Full Employment," edited by Ellen Carlson and William F. Mitchell, pp. 62–71, vol. 12, ELRR: Sydney, 2001. • "Unemployment and Fiscal Policy, Unemployment: The Tip of the Iceberg," William Mitchell and Ellen Carlson (eds.), pp. 219–231, CAER: Sydney, 2001. • "Building a Palestinian Economy," Middle East Insight, pp. 57–59, Washington DC, June–July 2001. • "Comment on 'In the Interests of Safety,' by Martin Mayer," in The Management of Global Financial Markets, edited by Jan Joost Teunissen, pp. 94–101, FONDAD: The Hague, 2000. • "Exchange Rate Policy and Full Employment," The Path to Full Employment, Ellen Carlson and William F. Mitchell (eds.), pp. 12–22, vol. 11, ELRR: Sydney, 2000. • "A General Framework for the Analysis of Currencies and Commodities", in Full Employment and Price Stability in a Global Economy, edited by Paul Davidson and Jan Kregel, pp. 166–177, Northampton: Edward Elgar Publishing, Inc, 1999. • "Full Employment and Price Stability," Journal of Post Keynesian Economics, Vol. 20, No. 2, Winter 1997–98. Monographs • Soft Currency Economics II, ADS Incorporate, Kindle edition: 2012. Paper edition: 2013 • In alto il deficit! (Up with the deficit!, book written in Italian), foreword by Paolo Barnard, Edizioni Sì, 2012 • Seven Deadly Innocent Frauds of Economic Policy, foreword by James K. Galbraith, Valance, 2010 • Soft Currency Economics, www.mosler.org, 1993. Paper edition: AVM, 1995 ==References==